Bond offers Manchester United fans chance to cash in on double glory
A new savings bond that could pay 3% interest - if Manchester United win the Premier League title and Emirates FA Cup in the 2017/18 season - has been launched.
The Double Champions Bond, from Virgin Money, offers a fixed rate of 1% for one year - but this will rise to 3% if Manchester United win both the Premier League and Emirates FA Cup next season.
This means that, at the very least, savers will receive a rate of 1% for a year - but they could potentially end up with a "double interest" bonus - giving them a rate of 3%.
Savers opening the bond can put anything from £1 to £1 million into it.
Virgin Money said customers also have the chance to win prizes, including match day tickets for Old Trafford and signed Manchester United replica shirts.
Rajesh Ahuja, savings director at Virgin Money, said: "With a competitive rate of interest, plus the potential for an additional double interest bonus if Manchester United win the league and Emirates FA Cup, we expect the new Double Champions Bond to be really popular ahead of the start of the new season."
Rising living costs are making it even harder for savers to find a deal that will keep up with inflation.
The Consumer Prices Index (CPI) rate of inflation hit its highest level in nearly four years in May, reaching 2.9%.
Rachel Springall, a finance expert at Moneyfacts.co.uk, said: "Supporters of Manchester United will be delighted to find out that there is a possibility for them to earn 3% on their savings if their club wins the Premier League and FA Cup next season."
She said that, for people who want to put away some cash each month, some regular savings accounts may offer higher rates than 3%, for example a 3.5% deal on offer from Saffron Building Society.
She continued: "If consumers are prepared to switch their current account then they could even score 5% with First Direct, HSBC, M&S Bank and Nationwide.
"Becoming a Santander 123 customer will also allow savers to access its regular saver paying 5%."