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Coventry BS launches Poppy Bond

Fixed-rate bond to support Royal British Legion

Coventry BS

New bond from Coventry BS supports the Royal British Legion

Coventry Building Society has launched the 2011 edition of its Poppy Bond in partnership with the Royal British Legion.

The Poppy Bond, available from Friday 4th November, is a fixed-rate savings bond paying 3.55% (AER/gross pa) until 30th April 2013. Coventry BS is making a donation to the Poppy Appeal of 0.05% of the total funds invested in the Poppy Bond.

Poppy Bond has raised £5 million

Coventry Building Society has helped to raise over £5 million for the Royal British Legion since the launch of the first Poppy Bond in 2008.

Russell Thompson, director of national events and fundraising at the Royal British Legion said: ‘We were overwhelmed by the donation we received from the Coventry’s 2010 Poppy Bond . This has been a fantastic partnership and thanks to the generosity of the Coventry, they have already raised over £5 million for the Poppy Appeal since 2008.’

Colin Franklin, sales and marketing director at the Coventry added: ‘Poppy Bond has proved to be a compelling combination over the last four years. This year, savers can again help us to support the Royal British Legion while also receiving an excellent rate of interest. The work of the Royal British Legion continues to be as important and relevant as it has ever been and we are hoping this new Poppy Bond will lead to another fantastic donation.’

A decent deal

Paul Davies, savings analyst at Which?, said of the new launch: ‘This fixed-rate bond ties your money up for 18 months and will appeal to those savers looking to help a good cause.

‘You can get 3.55% or 3.6% on one-year fixed-rate deals, so this offer isn’t quite at the top of the tables, but has the added benefit of contributing to a worthy cause. That said, a rate of 3.55% is still very competitive and the bond will only be available for a limited period.’

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