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Coventry bond donates to Cancer Research Coventry bond donates to Cancer Research
(8 days later)
The Coventry building society has launched the UK's top-paying short-term fixed-rate savings bond – with the added benefit of aiding cancer research.The Coventry building society has launched the UK's top-paying short-term fixed-rate savings bond – with the added benefit of aiding cancer research.
The Race for Life Bond pays 2.1% and is fixed for 22 months until 30 April 2015. It is in partnership with Cancer Research UK and savers can sign up knowing that the building society will donate a sum equal to 0.1% of the total balances held in the bonds to help fund the charity.The Race for Life Bond pays 2.1% and is fixed for 22 months until 30 April 2015. It is in partnership with Cancer Research UK and savers can sign up knowing that the building society will donate a sum equal to 0.1% of the total balances held in the bonds to help fund the charity.
The partnership builds on the success of the society's Poppy accounts, which have seen £8m donated to the Royal British Legion's Poppy Appeal over the past five years.The partnership builds on the success of the society's Poppy accounts, which have seen £8m donated to the Royal British Legion's Poppy Appeal over the past five years.
Savers can invest a minimum of £1 – up to a maximum of £250,000 – and elect to receive their interest annually or monthly. If you go for the latter, the interest must be paid straight away.Savers can invest a minimum of £1 – up to a maximum of £250,000 – and elect to receive their interest annually or monthly. If you go for the latter, the interest must be paid straight away.
Deposits must be made within 10 days of opening; additional deposits can be added as long as the bond is open to new investors, or for up to seven days after the initial investment.Deposits must be made within 10 days of opening; additional deposits can be added as long as the bond is open to new investors, or for up to seven days after the initial investment.
Colin Franklin, Coventry director, says: "I am delighted we are launching the Race for Life Bond. Cancer Research UK gives hope to thousands of people through its ground-breaking research. We really want to encourage support for its work, and by doing the right thing for savers we hope we can improve the prospects of thousands of cancer sufferers."Colin Franklin, Coventry director, says: "I am delighted we are launching the Race for Life Bond. Cancer Research UK gives hope to thousands of people through its ground-breaking research. We really want to encourage support for its work, and by doing the right thing for savers we hope we can improve the prospects of thousands of cancer sufferers."
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