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 into another suitable 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).

£1,047.00

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 to open and manage

• Online
• You must be aged 16 or over

When you apply for the account, you must provide us with a valid email address for each account holder.

How to put money into your account

• Pay in cash or cheques in a branch
• 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

We’ll email you within a month of any money leaving your account, to let you know that your statement is ready to download. You can still ask for a statement at any time. Just pop into a branch or call us and we’ll send you one by post.

This is a limited access account. You can take money out of your account up to four times a year without having to pay a charge. From the fifth withdrawal onwards, you’ll receive a charge equal to 50 days’ interest based on the amount you’re withdrawing. The charge will be deducted from the balance of the account, at the time of the withdrawal. Each ‘year’ in this case starts on the anniversary of the day you opened the account.

How to take money out of your account

• Ask for a transfer to another Coventry Building Society account or to your Named Bank Account, online

This account is a limited issue, so we may stop accepting applications at any time. You can only have one Four Access Saver (Online) (3) at a time.

If you open a Four Access Saver (Online) (3) and then change your mind, you have a 14-day cooling off period, where you can close your account and won’t be charged. Day 1 starts from the day you open your account, so if you open your account on the first day of the month, your cooling off period would finish on the 15th day of the month. To close the account, simply log into Online Services and select ‘Close my account’.

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

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