Northern Bank Fixed rate bond

ballyblack

Northern Bank is advertising their new 'Charity Bond' on local commercial radio

Its a One Year Fixed Rate Bond (minimum £2000) paying a miserly 1.95% . Its one of the poorest rates, the market average is 3.5%

The charity bit........ they will donate £20,000 to a children's charity and you will supposedly supporting this.

Why can't the bank donate to charity (they get full tax relief) without patronising and making profit out of hard pressed savers??


http://www.northernbank.co.uk/en-gb/Personal/Savings-and-investments/Savings/Products/Pages/Charity-Bond.aspx

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36square

So typical of the local banks. They've been exploiting ignorance and inertia for years and now this: an egregious attempt to hoover up some cheap funds by tugging at heartstrings. The combination of "children" and "cancer" is perfectly targeted. Much more effective than "elderly" and "dementia", for example.
How about everyone opening one of these, triggering the donation and then closing it after a while as the penalty on such a feeble rate can't be too painful.

ballyblack

Could not agree more 36 Square

By my reckoning of they take in any more than 1.5 million in deposits they have been well paid for their 'tug at the heart string donation' ?

Shower of bankers! :mad: :mad: