The Co-operative Bank Savings
 |  Compare The Co-operative Bank savings details against other savings or use our savings comparison tables.Did you know The Co-operative Bank also provide credit cards, current accounts and travel insurance? | ||
| Company: | The Co-operative Bank www.co-operativebank.co.uk | The Co-operative Bank www.co-operativebank.co.uk | The Co-operative Bank www.co-operativebank.co.uk |
| Product: | Smart Saver | Cash ISA | 1 Year Fixed Term Deposit |
| details | details | details | |
| Apply via this site: | Not available | Not available | Not available |
| | | |
| Savings Details | |||
 Account Type: | Instant Access | Cash ISA | Term |
| Rate Type: | variable | variable | fixed |
| Headline Interest Rate: | 4.18% | 4.75% | 6.5% |
| Application Criteria | |||
| Existing Customer Only: | no | no | no |
| Minimum Age: | 16 | 16 | 16 |
| Restricted Availability: | no | no | no |
| Area Restrictions: | none | none | none |
| Minimum Investment: | £1 | £1 | £2,000 |
| Maximum Investment: | £1,000,000 | n/a | £1,000,000 |
| Minimum Balance: | £0 | £0 | £2,000 |
| Monthly Minimum: | n/a | 0 | n/a |
| Maximum Investment pa: | n/a | 3600 | n/a |
| Maximum Balance: | n/a | Unlimited | n/a |
| Introductory Rates | |||
| Introductory Bonus: | 0% | 0% | 0% |
| Incentives Offered: | no | no | no |
| Rates | |||
| Tax Free: | no | yes | no |
| Open-ended Bonus: | 0% | 0% | 0% |
| Rate Tiers: | no | no | no |
| Fixed Term: | n/a | n/a | 1 year |
| Fixed Term in Months: | n/a | n/a | 12 |
| Fixed Interest Rate: | n/a | no | yes |
| Fixed Rate Period: | n/a | n/a | 1 year |
| Term Period: | n/a | n/a | 12 |
| Interest Payment Freq: | annually | annually | choice |
| Managing Account | |||
| Instant: | yes | n/a | n/a |
| Passbook: | no | yes | no |
| Transactions at Branch: | yes | quarterly | yes |
| Statement Frequency: | annually | no | annually |
| Transactions by Phone: | yes | yes | no |
| Transactions by Internet: | yes | yes | no |
| Transactions by Post: | yes | yes | no |
| Special Access: | no | no | yes |
| Withdrawal Conditions: | no | no | yes |
| Transfers In: | n/a | yes | n/a |
| Transfers Out: | n/a | yes | n/a |
| Closure Before Maturity: | n/a | n/a | no |
| Transferred on Maturity: | n/a | n/a | Save Direct Account |
| Fees & Charges | |||
| Penalty on all Wdls: | no | n/a | n/a |
| Trans Notice/Pen/Charge: | n/a | no notice, penalty or charge | n/a |
| Transfer Notice: | n/a | 0 | n/a |
| Transfer Penalty: | n/a | 0 | n/a |
| Transfer Charge: | n/a | 0 | n/a |
| Withdrawal Notice: | n/a | 0 | term |
| Withdrawal Penalty: | n/a | 0 | n/a |
| Withdrawal Charge: | n/a | 0 | n/a |
| W/d Notice/Penalty/Charge: | n/a | no notice, penalty or charge | n/a |
Compare The Co-operative Bank Savings
First-Time Buyers 'Plan to Save £20k for First Home'
Britain's first-time buyers are aiming to build up a savings pot of around £20,000, before stepping on to the property ladder, the Press Association reports.
New figures from the Co-operative Bank and Places for People also show that the average buyer estimates that it will take them another two years before they think about going in to the property market.
While this two-year gap is partly to give the buyers time to build up savings, confidence in property has been severely knocked due to the credit crunch. House price falls - which have exceeded ten percent over the past year - have put many people off buying a home in the present market.
Mortgage availability has also been severely curtailed by the crisis, with many lenders struggling to raise revenue on the money markets and therefore pulling some of their cheap deals.
However, the Co-op found that, in the long-term, many people still see property as a sound investment. The majority (54 percent) said that renting a home was akin to "throwing money down the drain", while 46 percent expressed willingness to downgrade their expectations of the home they wanted in order to get on the housing ladder.
Moreover, the proportion of people saying that they would not make lifestyle sacrifices in order to have enough money to buy has dropped from 57 percent to just nine percent over the past 12 months, the Co-op said.
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