Coventry BS reveals its latest Poppy Bond savings accounts which give a boost to veterans and pay 2.1% interest
Members of the Armed Forces, veterans and their families are to be supported by the launch of two savings accounts, which both donate a slice of wealth to the charity behind the Poppy Appeal.
The Centenary Poppy Fixed Isa, from Coventry Building Society, pays 2.1 per cent per annum over five years.
Alternatively savers can opt for the society’s Centenary Poppy Bond paying the same rate until December 31, 2023. Both can be opened with a minimum of £1.
INCENTIVE TO DONATE: The Centenary Poppy Fixed Isa, from Coventry Building Society, pays 2.1 per cent per annum over five years
A donation equal to 0.15 per cent of all money ploughed into the accounts by the end of December this year will be made to The Royal British Legion.
Coventry has donated more than £16 million to the charity in the last ten years through sales of its Poppy bonds.
Ben France, head of corporate partnerships, says: ‘We are saying thank you to the entire generation who served then, and all the generations who have served since.’
Meanwhile, the Forces MoneyPlan – an initiative by the Personal Finance Society – delivers free financial advice from qualified professionals to Armed Forces personnel and veterans.
It does so via partnerships with specific organisations. The society has announced it will in future include members of Blesma – a charity representing serving and ex-servicemen and women who have lost limbs.
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