Coventry has relaunched its Poppy Online Saver account, offering a competitive rate of 3.15 per cent AER.
The account provides easy access to online savings and permits users to have up to four penalty-free withdrawals each year, with further withdrawals possible in return for sacrificing interest.
Operations take place entirely online and can be opened with a minimum investment of £1 and a maximum of £250,000.
One of the more individual aspects of the savings account is the fact that donations are made by Coventry to the Royal British Legion. Since the savings products were initially launched in 2008, they have generated around £5 million for the charity.
The latest product will see Coventry donate 0.05 per cent of the average annual balances held in Poppy Online savings account during each 12 month period to add to this donation.
Colin Franklin, sales and marketing director at the Coventry Building Society, commented: “Poppy Online Saver was very popular with savers when it was introduced earlier this year, so we have decided to launch a second issue.”
He added: “The work of the Royal British Legion continues to be as important and relevant as it has ever been and we are hoping this new Poppy Online Saver will lead to another fantastic donation.”
