MSE News: Virgin Money launches Man Utd fixed savings account

VT82

One-Eye wrote: »

If you are thinking of putting £10,000 in this Virgin account, instead put £9,990 in the OakNorth Bank 1.86% account (worth £10,175.81 at the end of the year) and £10 on a Man Utd double with Betway at 22/1 which will give you £230 if they achieve it.

george4064 wrote: »

You'd be better of sticking the £10,000 into the account and betting the £100 guaranteed interest on Man Utd to win the double at 20/1!!

To be exact...


Option 1: Stick £10,000 in Virgin account...
Proceeds if ManU don't get double: £10,100
Proceeds if ManU get double: £10,300


Option 2: Stick £9,916 in OakNorth account, £84 on ManU to win double at 22/1
Proceeds if ManU don't get double: £10,100
Proceeds if ManU get double: £12,042


Hmmmm, I wonder if the Virgin account represents a good deal or not??? :doh:

eskbanker

VT82 wrote: »

To be exact...


Option 1: Stick £10,000 in Virgin account...
Proceeds if ManU don't get double: £10,100
Proceeds if ManU get double: £10,300


Option 2: Stick £9,916 in OakNorth account, £84 on ManU to win double at 22/1
Proceeds if ManU don't get double: £10,100
Proceeds if ManU get double: £12,042


Hmmmm, I wonder if the Virgin account represents a good deal or not??? :doh:

[STRIKE]If we're going for exactness - if you only put £9,916 into the OakNorth account then you'll have 101% of £9916 (not £10K) at the end, so option 2 is actually:

Proceeds if ManU don't get double: £10,015.16
Proceeds if ManU get double: £11,947.16[/STRIKE]

Lokolo

eskbanker wrote: »

If we're going for exactness - if you only put £9,916 into the OakNorth account then you'll have 101% of £9916 (not £10K) at the end, so option 2 is actually:

Proceeds if ManU don't get double: £10,015.16
Proceeds if ManU get double: £11,947.16

What?

According to #2 the OakNorth account pays 1.86%. £9,916 would mean an end balance of £10,100.44.

Why are you talking about OakNorth and 1%?

EachPenny

veryintrigued wrote: »

Am more interested that the Virgin Bank / Man Utd relationship is ongoing as am sure people in the Virgin Regular saver thread(s) stated the end of this relationship being the reason no further Virgin RS offers would be launched.

karlie88 wrote: »

It's a 4 year agreement between Virgin Money and Manchester United which started a year ago:
...
So there may be more Man Utd reg savers to come...

I'm not sure about what other people said, but something I mentioned was that I'd heard that the relationship was going to be focused on other products in the future, not that it was coming to an end.

We might find out for sure in the coming weeks and months.

eskbanker

Lokolo wrote: »

What?

According to #2 the OakNorth account pays 1.86%. £9,916 would mean an end balance of £10,100.44.

Why are you talking about OakNorth and 1%?

Because I misread the post - ignore all that!

Lokolo

eskbanker wrote: »

Because I misread the post - ignore all that!

Blame it on the weather, not used to it :rotfl:

0148tman

virgin obviously want all manu fans but if I was a manu fan I would simply bet just £16 at the odds of 20-1 beating the intreast gained on them doing the double and invest my money in said bank account beating it all hands down and having fun doing it:rotfl:

veryintrigued

IanManc wrote: »

Virgin can stick their Man U accounts where the sun don't shine.

Is that Manchester too?