Football fans might be able to help keep their club afloat through a selection of innovative savings account, according to one expert.
Andrew Hagger, spokesperson for personal finance website Moneynet.co.uk, explains that so-called affinity savings accounts allow people to build up a nest egg at the same time as providing their team with a financial boost.
He explained that while the rates on offer might not make them the best savings accounts around, many fans overlook this.
Mr Hagger said: "Fortunately for the clubs, many football supporters are willing to sacrifice interest income on their savings accounts on the understanding that the depleted coffers of their beloved team will benefit as a result."
Among the most successful providers of such savings accounts is Norwich and Peterborough building society, through which members have contributed £2.65 million to Norwich City over 11 years, he added.
Yesterday, research by cahoot found that the average interest rate on an instant access savings account has increased by 0.6 per cent in the last year.
Affinity savings accounts can boost football clubs
Affinity savings accounts can boost football clubs
Fri, 08 Aug 2008
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