Coventry Building Society savings rates — compare every account, plus switch offers and guides

Who they are

Coventry Building Society is a building society based in Coventry, England, and the second largest in the UK with total assets of more than £64 billion. It traces its roots back to 1884 , making it one of the longer-established mutuals in the country. As a building society, it is owned by its members - savers and borrowers - rather than outside shareholders, which shapes how it approaches pricing and service.

In January 2025, it completed a transformative £780 million acquisition of The Co-operative Bank, restoring the latter to mutual ownership and significantly expanding its scale. Ownership changed, but both brands operate separately for now, with no immediate changes to how you manage existing products. It is worth noting that if you hold savings with both Coventry Building Society and the Co-operative Bank, you should check whether they share a banking licence, as that could affect your FSCS protection limits.

Savings accounts

Coventry offers a range of savings options to suit different needs. On the fixed side, the Fixed Rate ISA and Fixed Rate Saver give you a locked-in rate until maturity - useful if you are happy to put money away and not touch it. For savers who need some flexibility, the 3 Access Saver and 5 Access ISA both allow a set number of free withdrawals per year before charges kick in. There is also an Easy Access Saver and Easy Access ISA for those who want unlimited access, though as with most easy-access products the trade-off is a lower rate.

Families are well served too. The First Home Saver is a regular savings account aimed at first-time buyers, with a £500 bonus available if you go on to take a mortgage with Coventry - worth factoring in if that is your plan. Young Saver and Junior Cash ISA accounts cover children's savings, with the Junior Cash ISA locked until the child turns 18.

All accounts on this page carry FSCS protection up to £120,000 per person - notably higher than the standard £85,000 limit you see at most banks, which reflects Coventry's building society structure. Rates are variable unless stated as fixed, so they can move over time.

Is it right for you?

Coventry tends to suit savers who want a wide choice of account types under one roof, from straightforward easy access through to fixed-rate ISAs and children's accounts - all with a low minimum balance of just £1. The mutual ethos means there are no sales targets and the focus is on member value rather than shareholder returns.

There is no current account switch offer here, so if you are primarily chasing a cash switching bonus, Coventry is not the place to look. But for committed savers, the breadth of the range is a genuine strength.

Rates shift regularly, so check the live figures on this page before applying to make sure you are seeing the most up-to-date picture.