Instant Access Account

AER/Gross p.a.



Interest paid



£1 - £250,000

Instant Access Account

AER/Gross p.a. (Variable)
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Account overview


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Variable rate icon
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Account name

Instant Access Account

What is the interest rate?

  Annual interest
Monthly interest
Balance AER*/Gross p.a. AER* Gross p.a.
£0.01 plus 0.01% 0.01% 0.01%
We calculate the interest daily and pay it annually, on the anniversary of the date you opened the account, or monthly, at the end of the last day of each month.

Interest can be added to the account or paid away.

Can Coventry Building Society change the interest rate?

The interest rate is variable, so it can go up or down at any time.

For more details about why we may change the rate, as well as how and when we'll let you know, see our Saving Accounts Terms and Conditions (section 4).

What would the estimated balance be after 12 months based on a £1,000 deposit?



This would be the balance after 12 months if £1,000 was paid in, all interest was paid back into the account annually, there was no change to the interest rate and no money was taken out or paid in.

This illustration is just an example to help you compare accounts. It does not take into account any individual circumstances.

How do I open and manage my account?

You must be aged 16 or over to open this account. You can ask us for a passbook and/or cash card at any time. To do this, pop into a branch or give us a call.

How to open and manage

  • Online
  • Call 0800 121 8899
  • By post
  • Pop into any branch (to manage your account like this, you’ll need to have a cash card or passbook and bring it with you, please check branch opening hours on our website first) 

How to put money into your account

  • Pay in cash or cheques in a branch (please check our opening hours)
  • Post us a cheque
  • Set up transfers from an account with another bank or building society or another account with us
  • The minimum balance is £1
  • The maximum balance is £250,000

How to keep track of your account

If you don’t have a passbook (or you have one but don’t keep it updated), you’ll get a statement within a month of any money leaving your account. We won’t send more than one a month.

If you have a passbook and keep it updated, there’s no need for statements.

You can get statements by post, or go paperless if you use Online Services.

Can I withdraw money?

This is an easy access account. You can take money out whenever you wish.

How to take money out of your account

  • Ask for cash or cheques at any branch, if you have a passbook or cash card
  • Ask for a cheque by post
  • Ask for a transfer or set up a regular payment to another Coventry Building Society account or an account with another UK bank or building society
  • If you have a cash card, you will be able to take money out at any time, at any cash machine displaying the LINK, Visa or Plus Symbol

Additional information

We pay your interest gross. The gross rate is the interest payable before the deduction of tax.

*AER stands for Annual Equivalent Rate and illustrates what the interest rate would be if interest was paid and added each year.

Application checklist

Must be a UK resident
Be at least 16 years old
Your Coventry account number 
Your bank or building society account details
A Tax identification Number (TIN)
Have read the following documents 
Ready to open an account?

Instant Access Account

Want help?
Our help section is bursting with useful information. If you'd rather chat, just give us a call.


Call us on 0800 121 8899

Lines open
  • Mon-Fri 8am-7pm
  • Saturday 9am-2pm
  • Sunday & Bank holidays Closed
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Want help?
Our help section is bursting with useful information. If you'd rather chat, just give us a call.


Call us on

0800 121 8899

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