Up until a couple of weeks ago I thought the only way to profit from the World Cup was with a few well-placed, lucky, bets. It turns out that may not be so.
According to half the high street, there are several other products – from saving bonds to electronics – that can also make me a winner.
But which of the deals on offer make sense and which should you leave on the bench?
Nationwide’s Football Savings Bond
Nationwide is trying to cash in on football fever with a four-year savings bond. The upfront interest rate is 4.15%. The football hook is a promise that it will rise to 4.65% if England wins the World Cup.
But sad as some may find the idea, odds are England won’t win the World Cup (as the number crunchers over at Nationwide know all too well).
It is also worth noting that even if England do beat the odds and lift the trophy the interest rate won’t actually rise to 4.65% until May next year. So you’ll only get the increased rate for the final three years of the bond anyway.
- Make your money go further abroad
All this means you are better off going elsewhere if you want a long-term savings bond. ICICI Bank offers 4.25% on its four-year HiSave bond and Principality Building Society offers 4.2%. If you want a shorter time scale for your savings look at Kent Reliance Building Society’s 3.75% two-year bond. That’s a good rate and you aren’t locking your money up for too long so when the Bank of England base rate rises – which it will eventually – you won’t be left behind.
And if you’re really convinced England are going to win the World Cup you might skip the Nationwide offering and look at bet365 instead. They’ll give you odds of 8/1.
Enjoying this article? Sign up for our free weekly email, MoneyWeek Saver, to receive free weekly personal finance tips and insight direct to your inbox from our expert, Ruth Jackson.
Sign up to MoneyWeek Saver here
Santander’s Hat-Trick mortgage
Santander has launched a new three-year tracker mortgage at 3% with a £333 fee which they’ve entitled the ‘hat-trick’ mortgage in the hopes of attracting football fans and press coverage.
It isn’t a bad deal. The £333 fee is very competitive – some mortgages have arrangement fees that are closer to £1,000. And 3% is a fairly competitive rate. But you need a deposit of at least 25% and the maximum mortgage amount is £550,000. There are also a few better deals out there. Yorkshire Building Society, First Direct and ING Direct all offer 2.39% tracker mortgages.
Buy a new TV
If you’ve been thinking about buying a new television, now may really be the time. Retailers are getting in on World Cup fever with various offers. For example, if you buy a Toshiba laptop or TV before 10th June you can claim a full refund if England win the World Cup. Clearly, like Nationwide, Toshiba are pretty confident England will lose.
Currys has a far safer offer. If you buy a TV worth over £599 from them before 11th June (Friday) and register your purchase within three days, they will give you £10 cashback for every goal England score (excluding penalties and own goals). So you are quids in whether England win or not – as long as they score some goals. However before you buy, do check that you can’t buy the same TV cheaper elsewhere – overpaying would make the whole thing pointless.
• This article is taken from our weekly MoneyWeek Saver email.
Sign up to MoneyWeek Saver here