New 2-year tracker bond launched by Coventry
Coventry Building Society has unveiled a new Bank of England base rate tracker bond.
The product is guaranteed to pay at least 3.2 per cent AER/Gross per annum until September 30th 2012.
It is an innovative offer that offers the best of both worlds and ensures savers do not miss out, the organisation claimed.
The rate will track at +2.2 per cent above the base rate and there is no cap on the insurance rate.
Colin Franklin, sales and marketing director at Coventry, noted it has been a tough time for savers.
He added those hoping to commit to a bond "will not want to miss out on the potential of rising rates".
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