Coventry Building Society bonds 'working harder'

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Coventry Building Society bonds 'working harder'

People who invest their money in a new Coventry Building Society Fixed Bond can benefit from an extended saving period, according to a spokesperson for the firm.

Colin Franklin, sales and marketing director at the company, made his remarks regarding the Fixed Bond (120), which was launched today (August 27th) and matures on December 31st 2012.

Coventry Building Society explained that this is a later maturity date than its "best buy" Two-Year Fixed Bond, which means there is a longer time period for the product to accrue interest.

"This is great news for savers, whose money will be working harder for longer," explained Mr Franklin.

Customers will receive 3.7 per cent interest on balances of between £1 and £250,000.

Recently, the company announced its half-year financial results for the six months leading up to June 30th 2010, during which time it increased its underlying profit before tax by 40 per cent to £46.5 million.

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