We calculate the interest daily and pay it annually, on the anniversary of the date you opened the account.

Interest will be added to the account.

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 booklet (section 4).

£1,861.08

This would be the balance after 12 months if £150 was paid in on 1 September 2024 and on the first of each month from then on, all interest is paid back into the account at the end of 12 months, there was no change to the interest rate and no money was taken out during the year.

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

Eligibility

• You must be aged 18 or over to open this account.

How to apply for this account

• Online 
• Call us on 0800 121 8899
• By post
• Pop into a branch.

Joint accounts applied for online or by phone will need an application form sending via post for you to complete.

How to manage and keep track of your account

• Register and use Online Services
• Register and use our app
• Call us on 0800 121 8899.

How to put money into your account

• Each month you can pay in as many times as you like, up to a maximum of £150. 
• If a payment takes you over the £150 monthly limit, the whole payment will be returned to you. 
• You can pay in at any time but for it to count towards that calendar month’s allowance it has to arrive before the last day of the month, so we recommend you send any money to us at least a few days before the end of the month. Any money that arrives after the end of the month will be counted towards your next calendar month’s allowance.
• The minimum balance is £1.

You can...

• Set up regular transfers or standing orders from an account with another bank or building society or another account with us
• Pay in cash or cheques in a branch
• Post us a cheque.

This is an easy access account, so you can take money out at any time.

How to take money out of your account

• Pay money to another Coventry Building Society account or to your Named Bank Account online, or you can call us
• Pay money to another Coventry Building Society account in your name or to your Named Bank Account via our app
• Request cheques by post.

If you take money out, you can still only pay in up to £150 per month. For example, if you take out £50, you can still only pay in your £150 monthly allowance; you can’t replace the £50 as well.

What happens at the end of 12 months? 

At the end of 12 months, on the anniversary of account opening, your account will transfer to an  Easy Access Saver (7) – an account which allows unlimited withdrawals without charge. Easy Access Saver (7) will pay a lower interest rate than Sunny Day Saver. 

The interest rate on our Easy Access Saver (7) is variable – this means we can change it and it can go up or down. We’ll write to you closer to the time to confirm your new rate. If you would like to see what rate Easy Access Saver (7) pays now, you can:

• Call us on 0800 121 8899
• Ask us or look at the display in any branch.

You’ll be able to keep saving and your account number won’t change. You’ll also have the option to take some or all of your money out or close your new account. We’ll send you a reminder and full details of the options available to you at least 14 days before the account transfers. If you take no action your account will become an Easy Access Saver (7). 

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

This account is a limited issue, so we may stop accepting applications at any time. You can only be named on one Sunny Day Saver, whether the account is opened in sole or joint names. 

If you open a Sunny Day Saver and then change your mind, you can close it anytime.

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

Sunny Day Saver Prize Draw

We will hold 11 prize draws during the 12 month term of this account; the first prize draw will be held on 17 October 2024. All future prize draws will be held during the second week of each calendar month. Winners will be notified by email or telephone. 

There will be 20 winners for each monthly prize draw and the cash prize will be paid into the winners’ Sunny Day Saver account. The prize values are:

• 1st Prize - £500 (1 winner)
• 2nd Prize - £200 (5 winners)
• 3rd Prize - £50 (14 winners)

Winning one of the cash prizes will not affect the amount you can pay in each month; you can still pay in up to £150 per calendar month, even if you win one of the cash prizes.

The cash prize is paid tax-free; if you win a cash prize you are responsible for any individual tax liabilities.

Eligibility

• You must be a UK resident on the date of the relevant prize draw 
• You must be named on a Sunny Day Saver at the time of the prize draw (either as sole or joint account owner)
• You must have paid in at least £10 to your Sunny Day Saver within the calendar month preceeding the prize draw date.

Each account that is eligible will receive one entry to each prize draw.

Exclusions

Accounts held by any of the following will not be eligible for inclusion in the prize draw:

• Employees and contractors of Coventry Building Society
• Members aged under 18
• Members who are named on more than one Sunny Day Saver (where this is the case, only the first account opened will be included).

We will automatically enter Sunny Day Saver accounts into the monthly prize draw; if you want your account to be excluded from the prize draw, you’ll need to let us know. 

More information can be found in the Specific Terms for the Sunny Day Saver; you can also call us on 0800 121 8899, or visit a branch.