This account lasts for 12 months. We calculate the interest daily and pay it annually, on the anniversary of the date you opened the account.

Interest can be added to the account or paid away to 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).

£3,080.89

This would be the balance after 12 months if £250 was paid in on 1 May and 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.

To be able to open this account, you’ll need to have held or been linked to a savings or mortgage account with Coventry Building Society, ITL Mortgages Limited or Godiva Mortgages Limited continuously since 1 January 2025 or earlier. If opening a joint account both customers will need to be eligible.

If you want to check if you’re eligible, get in touch.

You must provide us with a Named Bank Account.

How to open

• Online or via our app
• Call us on 0800 121 8899
• By post - applications for joint accounts which are started online must be opened in this way
• Pop into a branch
• You must be aged 18 or over to open this account.

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
• By post
• Pop into a branch.

How to put money into your account

• Each month you can pay in as many times as you like, up to a maximum of £250. If you have a joint account the maximum is still £250. If a payment takes you over the £250 monthly limit, the whole payment will be returned to you. Your deposit month starts on the day you opened the account. For example, if you opened the account on 15 May you’d have from 15 May to 14 June to pay in your first month’s allowance. Your second month would start on 15 June.
• You can pay in at any time, but for it to count towards that month’s allowance it has to arrive before the day of the month you opened your account. We recommend that you make sure all of the money for the month is paid in a few days before your deposit month resets.

Any money that arrives after this date will be counted towards your next month’s allowance.

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 account is designed for saving your money. After the 14 day ‘cooling-off period’, you can take out money or close your account, but there will be a charge equal to 30 calendar days’ interest on the amount withdrawn. Notice for withdrawal/closure cannot be given.

The charge will be deducted from the balance of the account at the time of the withdrawal.

How to withdraw

• Pay money to another Coventry Building Society account online, or call us
• Pay money to another Coventry Building Society account in your name via our app
• Pay money to your Named Bank Account online, via our app, or call us
• If you take money out, you can still only pay in up to £250 per month. For example, if you take out £100, you can only pay in your £250 monthly allowance. You can’t replace the £100 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 account – an account which allows unlimited withdrawals without charge. The new easy access account will pay a lower rate than Loyalty Regular Saver (3). We’ll write to you closer to the time to confirm details of your new account.

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 account.

This account is a limited issue, so we may stop accepting applications at any time. You can only have one Loyalty Regular Saver (3) at a time, whether the account is opened in joint or sole names.

Loyalty Regular Saver (3) Prize Draw

There will be a prize draw for all eligible accounts on 31 May 2025.

Winners will be notified by post only to the correspondence address registered to your Loyalty Regular Saver (3), we will not contact you requesting any additional information regarding the prize draw.

50 accounts will be selected at random, each receiving a cash prize of £1,000 which can only be paid directly into the Named Bank Account linked to the winner’s Loyalty Regular Saver (3) account within 50 working days of the draw.

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 aged 18 or over on the date of the prize draw
• You must be named on a Loyalty Regular Saver (3) at the time of the prize draw (either as sole or joint account owner)
• A Named Bank Account must be registered to your Loyalty Regular Saver (3)
• You must have a minimum of £100 in your Loyalty Regular Saver (3) on 31 May 2025.

Each account that is eligible will receive one entry to the 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 Loyalty Regular Saver (3) (where this is the case, only the first account opened will be included).

We will automatically enter all eligible Loyalty Regular Saver (3) 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 before midnight on 31 May 2025.

More information can be found in the Specific Terms for the Loyalty Regular Saver (3); you can also call us on 0800 121 8899, or visit a branch.

*AER stands for Annual Equivalent Rate and illustrates what the interest rate would be if interest was paid and added each year. We pay your interest gross. The gross rate is the interest payable before the deduction of tax.