What are the current Coventry Building Society Cash ISA rates?

Key takeaways

• Current rates: Coventry Building Society offers Cash ISA rates ranging from 2.00% AER (variable) to 4.65% AER (fixed).
• Top performer: The 1-Year Fixed Rate ISA provides their highest current return at 4.65% AER (fixed).
• Transfer tip: Always use the official ISA transfer service when moving funds to protect your tax-free allowance.

Research shows that 52% of people with a Cash ISA use the same provider they use for their current account, but this isn’t always a good idea! The big high-street banks don’t necessarily offer the most competitive rates. To see how another provider could help you reach your savings goals faster, take a look at our guide to the Best Cash ISAs in the UK.

What are the current Coventry Building Society ISA rates?

Coventry Building Society currently offers a range of Cash ISA savings products, with the most competitive rates available for savers willing to lock their money away for a set time period. Their rates range from 2.00% AER (variable) with their Easy Access ISA, up to 4.65% AER (fixed) with their 2 Year Fixed Rate ISA. But these aren't the most competitive rates on the market, and savers can get better rates elsewhere.

Source: Current Coventry Building Society Cash ISA rates, accurate as of July 2026.

What is Coventry Building Society’s best ISA rate?

Coventry Building Society’s best Cash ISA rate is currently 4.65% (fixed) AER, available with their 2 Year Fixed Rate ISA. However, this isn't the most competitive rate available for a Fixed Rate ISA or a Cash ISA, so it's worth shopping around.

Take a look at our guide to the best Cash ISAs on the market to compare different accounts today.

Is Coventry Building Society a good ISA provider?

Coventry Building Society is a well-established savings provider, but whether it's the right choice depends on a saver’s priorities. On the plus side, Coventry offers a range of ISA options and lets savers manage their accounts through multiple channels, including their mobile app, online, by post, or in branch.

However, Coventry’s best Cash ISA rates are reserved for savers who are willing to lock away their money for a set time period or accept restricted access. If someone wants an easy-access account, they may find better interest rates with a different provider.

Not only that, but other providers may offer better customer service too. Here at Tembo, for example, we’ve helped thousands of people save for the future and even get on the property ladder with our award-winning savings app. We’re also rated Excellent on Trustpilot, so you can be sure that we’re the real deal!

Learn more: Should I get an ISA?

Can I have two ISAs with Coventry Building Society?

Yes, savers can open and pay into multiple Cash ISAs in the same tax year, but only one of them can be with Coventry Building Society. They can also split the £20,000 annual ISA allowance across different types of ISA (such as a Cash ISA and a Lifetime ISA), as long as they don’t exceed the overall limit. If someone has already got a Cash ISA with Coventry or another provider and is looking for a more competitive rate, it’s up to them whether they keep multiple accounts or transfer their current ISA to a new provider.

If you’re saving a deposit for your first home, it may make sense to have a Cash ISA and a Lifetime ISA (LISA). Save up to £4,000 of your total ISA allowance in a Lifetime ISA each year and you’ll get a 25% bonus from the government - up to £1,000 each tax year! This means that if you max out your LISA for 3 years in a row, you’ll have a £15,000 deposit towards your first home. Choose a LISA with a competitive interest rate and you’ll have even more than this!

Buying a house with another first-time buyer? You can have a LISA each, potentially giving you double the savings, double the bonuses, and even more interest!

Take a look at our guide to the Lifetime ISA withdrawal penalty for more information.

Learn more: Cash ISA or Lifetime ISA. Which one should I pick?

Will Coventry Building Society increase ISA rates?

It’s impossible to say for certain. Coventry Building Society could increase its ISA rates, but it could lower them instead. The answer partly depends on which type of ISA a saver holds. As Coventry themselves explain, “a fixed rate doesn’t change” while “a variable rate can go up or down.”

Banks and building societies tend to use the Bank of England’s base rate as a guide when setting their own rates. If the base rate rises, banks and building societies often increase their mortgage and savings rates too. If the base rate falls, mortgage and savings rates often follow. But it’s impossible to know exactly what will happen to interest rates in future.

If you already have a fixed rate Cash ISA with Coventry Building Society, your interest rate will stay the same for the remainder of your fixed term, even if the Bank of England’s base rate drops or your provider changes its current ISA offering.

Learn more: Cash ISA or Lifetime ISA. Which one should I pick?

How to find the best Cash ISA rates

With so many providers to choose from, don’t just compare interest rates. Compare customer service quality, how easy it is to access your money and whether the provider offers bonuses or rewards too! The right Cash ISA can make a huge difference to your savings progress in both the short and long term.  For example, by saving with a Tembo Cash ISA, over 5 years, you'll earn hundreds more in interest than if you were to save in a similar account with one of the four biggest banks!

Take a look at our guide to the best Cash ISA rates for a handy breakdown of the most competitive accounts. 

How to transfer a Coventry ISA to another provider

Transferring a Coventry Building Society ISA to another provider is straightforward. Simply open a new ISA with the chosen provider and ask them to transfer the money over. The new provider will handle the entire process. The key thing is not to try to complete the switch manually, as this can impact your savings’ tax-free status and your ISA allowance for the current tax year.

Let’s imagine you’ve saved £35,000 in a Cash ISA over a number of years and you’d like to transfer your savings. If you try to move the money yourself, this could use up your full £20,000 ISA allowance for this tax year. You’ll also have to wait until the following tax year to move the remaining £15,000 into your new Cash ISA. Until then, you’d need to keep the money in a traditional savings account, where your interest would be taxed.

*Based on saving £100 at the beginning of each month for 5-years. Calculations show at month 61 (after 5-years) Tembo customers saving at 4.55% would have £343.33 on average more than saving with Barclays, HSBC, NatWest or Lloyds. Accurate March 2026.

*Fee-free mortgage advice is subject to eligibility, terms & conditions can be found here.

*Based on saving £100 at the beginning of each month for 5-years. Calculations show at month 61 (after 5-years) Tembo customers saving at 4.05% AER (variable) for the first 12 months, then 2.8% AER (variable) after that would have £242.49 on average more than saving with Barclays, HSBC, NatWest or Lloyds. Accurate July 2026.