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Support the 2 year fixed rate bond poppy appeal

Support the 2 year fixed rate bond poppy appeal

Category: Savings

Updated: 29/10/2012
First Published: 26/10/2012

MONEYFACTS ARCHIVE
This article was correct at the time of publication. It is now over 6 months old so the content may be out of date.

Why it won't just benefit The Poppy Appeal, by investing in Coventry's Poppy Bond…

The time of year is fast approaching when we formally honour those brave servicemen and women who have risked or lost their lives in conflicts ranging from the First World War to Afghanistan.

Simple and iconic, the poignancy of the poppy remains a fitting tribute to those thousands of souls who have made the ultimate sacrifice for this country in war. You may have already made a donation to The Poppy Appeal, but you may not know that there is also a way to make your savings work for the appeal as well.

Coventry Building Society is offering a new 2 year Poppy Bond (Issue 11) which gives the Royal British Legion a donation equal to a percentage of the funds you invest in the account. To date this scheme has raised a massive £6.7 million for The Poppy Appeal.

Great, you may be thinking, but surely this is at the expense of getting the best rate for your money? Not so – the Poppy Bond, as well as helping a great cause, also pays a very competitive rate of interest!

The 2 Year Fixed Rate Poppy Bond is fixed until 31.12.14 and pays 3.25% AER/gross p.a. on balances between £1 and £250,000. For this bond, the Coventry will donate an amount equal to 0.05% of the total funds invested balance to The Poppy Appeal (a £10 donation for a balance of £20,000).

The only downside is that your money is locked away until the bond matures 31.12.14, meaning you can't make withdrawals or close the bond prior to the end date. But this is no different to most other fixed rate bonds.

So why not show your support to The Poppy Appeal, and earn a great rate of interest at the same time?

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Disclaimer: Information is correct as of the date of publication (shown at the top of this article). Any products featured may be withdrawn by their provider or changed at any time.

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