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Virgin Money launches new Manchester United Double Champions Bond

04/07/2017

The information contained in this press release is intended solely for journalists and should not be used by consumers to make financial decisions. Any consumer interested in learning more about this product should visit our savings pages.

  • Double Champions Bond offers a competitive fixed rate of 1.00%
  • A double-interest bonus, taking the total interest rate to 3.00%, will be paid if Manchester United win the Premier League and Emirates FA Cup next season
  • Customers also benefit from access to exclusive ‘United Rewards’

Virgin Money has launched a new bond offering savers a competitive interest rate fixed for one year, with the rate increasing to 3.00% annual gross1/AER2 if Manchester United win the Premier League title and Emirates FA Cup in the 2017/18 season.

The new bond can be opened with just £1 and is available online at www.virginmoney.com and through all Virgin Money Stores. Customers will receive the same interest rate however they choose to operate their account.

In addition to a competitive interest rate, customers opening a Double Champions Bond will automatically benefit from the ‘United Rewards’ scheme. Each month this offers customers the chance to win a range of prizes including matchday tickets for Old Trafford, signed Manchester United replica shirts and a range of other exciting prizes. The more customers save, the better their chances of winning are.

Rajesh Ahuja, Savings Director at Virgin Money said: “With a competitive rate of interest, plus the potential for an additional double-interest bonus if Manchester United win the league and Emirates FA Cup, we expect the new Double Champions Bond to be really popular ahead of the start of the new season.”

Full details of Virgin Money’s savings range are available at www.virginmoney.com

NOTES TO EDITORS

Virgin Money is the Official Retail Financial Services Partner of Manchester United in the UK.

Product Details

TermIssueAnnual gross1/AER2
  Excluding win bonusIncluding win bonus
1 yearMan Utd 1 Year Fixed Rate Double Champions Bond / eBond1.00%3.00%
  • Additional deposits can be made as long as the bond remains available to new customers.
  • Withdrawals from the Double Champions Bond are not permitted during the fixed rate period.
  • The interest rate including a win bonus will be applied if Manchester United win both the 2017/18 Premier League title and Emirates FA Cup.
  • Accounts will receive 10 entries per month for the United Rewards prize draw, plus 1 additional entry per £50 balance each month, based on the average balance in the month.

1Gross P.A. is the rate of interest without the deduction of tax. Please note that the automatic deduction of tax on savings interest for non-ISAs ceased with effect from 6 April 2016.

2AER stands for Annual Equivalent Rate and shows what the interest rate would be when interest is paid and added to the capital balance each year.

About Virgin Money

  • Virgin Money offers savings, mortgages, credit cards, current accounts, currency services, pensions, investments and protection products to customers across the UK.
  • Virgin Money's business ambition is to make "everyone better off" - this philosophy underpins our approach to business by offering good value to customers, treating employees well, making a positive contribution to society and delivering a profit to shareholders.
  • More than 12,500 charities have registered with Virgin Money Giving and, by the end of Q1 2017, over £530 million had been raised for charity through the service since its launch in 2009, resulting in an estimated £16 million more raised for charity because of its not-for-profit model.

About Manchester United

Manchester United is one of the most popular and successful sports teams in the world, playing one of the most popular spectator sports on Earth. Through our 139-year heritage we have won 66 trophies, enabling us to develop the world’s leading sports brand and a global community of 659 million followers. Our large, passionate community provides Manchester United with a worldwide platform to generate significant revenue from multiple sources, including sponsorship, merchandising, product licensing, new media & mobile, broadcasting and match day.

Supplementary notes

The information contained in this press release is intended solely for journalists and should not be used by consumers to make financial decisions. Any consumer interested in learning more about this product should visit www.virginmoney.com/savings for full terms and conditions.

Virgin Money plc - Registered in England and Wales (Company No. 6952311). Registered Office - Jubilee House, Gosforth, Newcastle upon Tyne NE3 4PL. Authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority.