Poppy Bond strikes the right balance with savers

Coventry Building Society's innovative Poppy Bond has become the fastest selling savings bond in the Society's history.

Rachel Haworth, Head of Marketing at the Coventry, commented on the successful launch: "The Poppy Bond is a combination of a highly competitive rate with a substantial donation from the Society to The Royal British Legion. It's the first of its kind in the savings market and has made a powerful impression on savers.

"The response has been fantastic with thousands of savers contacting us since we launched at the end of last week. We are delighted that our new approach to charitable saving, which rewards the customer as well as the charity, is proving to be so successful.

"Due to its success, I would recommend anyone interested in the Poppy Bond to invest soon, as it may not be around for long."

The Poppy Bond pays a highly competitive fixed rate of 6.25% (AER/gross pa) until 31 December 2009. In addition the Coventry will make a donation to the Poppy Appeal equal to 0.25% of the total funds invested in the Poppy Bond.

Customers can apply for the Poppy Bond by visiting thecoventry.co.uk