Coventry Building Society bond launched for Poppy Appeal

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Coventry Building Society bond launched for Poppy Appeal

A new Coventry Building Society bond has been announced which will help raise money for the Poppy Appeal.

Available from today, the Poppy Bond pays a rate of 6.25 per cent gross per annum until December 31st 2009.

The Coventry will make a donation to the Poppy Appeal worth 0.25 per cent of the total funds invested in the bond.

Rachel Haworth, head of marketing at the society, said the Coventry hoped the bond would appeal to "a wide range of savers and enable us to make a substantial donation to The Royal British Legion's 2008 Poppy Appeal".

Russell Thompson of The Royal British Legion, said the charity was "delighted" about the bond.

The Poppy Bond has been praised by comparison website moneysupermarket.com.

It said that the "right balance" has been struck, with a "competitive rate with a generous contribution to a worthwhile cause".

According to moneysupermarket.com, charity-related affinity accounts often give poor rates and donors would do better to invest in higher earnings accounts and give the interest to the good cause.

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