Virgin Money offers one-year savings bond with a 3% return… if Manchester United do the double this season (and that's a big if)

Virgin Money has re-launched its one-year bond that may prove popular with Manchester United fans as it offers a chunky bonus if the Red Devils have a successful 2017/18 season.

The 'Double Champions Bond' offers a guaranteed fixed-rate of one per cent for 12 months. 

However, Virgin Money will pump this up to three per cent if Jose Mourinho's men do the domestic double and win both the Premier League and FA Cup next season.

Champions bond: The account will pay 3% - if Man Utd do the domestic double. Pictured, Richard Branson signing a deal with Virgin Money and the club

Champions bond: The account will pay 3% - if Man Utd do the domestic double. Pictured, Richard Branson signing a deal with Virgin Money and the club

Virgin offered a similar deal last season. However, that had a higher 1.25 per cent rate which doubled to 2.5 per cent if the Old Trafford outfit won the league. 

In the end, they finished 6th some 24 points behind Chelsea, meaning savers received the lower rate. This time around, they will have to win both domestic trophies to boost the rate for fans.

The bond can be opened with £1 and is available online and in branch. In addition, customers opening the account will automatically enroll from the 'United Rewards' scheme.

Each month, accounts will receive 10 entries per month for a prize draw, plus one additional entry per £50 balance each month. Virgin says that prizes include matchday tickets 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 FA Cup, we expect the new Double Champions Bond to be really popular ahead of the start of the new season.'

Dabtastic: Manchester United and record signing Paul Pogba won two trophies last year - the Europa League and League Cup

Dabtastic: Manchester United and record signing Paul Pogba won two trophies last year - the Europa League and League Cup

The bank announced a partnership with one of the world's most famous football clubs last summer, despite the bank being based in the North East. A few seasons ago, the firm sponsored Newcastle United.

Manchester United last won the league in 2012/13. Last season, they won the Europa League, which means they will be back in the Champions League for the forthcoming campaign.

They are second favourites to win the league behind fierce rivals Manchester City, according to bookmakers, while Paddy Power are offering 20/1 for Manchester United to do the double.

The one per cent rate can be beaten easily in the independent This is Money best buy savings tables, with the top one-year fix paying 1.85 per cent.

However, if Pogba and Co did defy the odds to win both trophies, the three per cent rate is far higher than what is offered elsewhere – the top five-year rate, for example, pays just 2.45 per cent. 

HOW TO EARN 5 PER CENT WITH YOUR CURRENT ACCOUNT

If you're fed up with paltry savings rates an interest-paying current account could help you get better returns on your savings pot.

Savers can find accounts paying as much as 5 per cent, more than double offered on the leading short-term fixed rates. 

This is Money, has a regularly updated guide to the best offers carefully chosen by its expert writers our guide to the top interest-paying current accounts

We round up some of the best deals on offer below:

The best interest-paying account for you will depend on the level of your balance and your monthly deposit amount. 

Santander 's 123 Account pays to 1.5 per cent interest on amounts between £1,000 and £20,000, but it is still a top deal for anyone with a large balance. 

It also pays up to 3 per cent tiered cashback on household bills, however it has a monthly charge of £5.

Nationwide FlexDirect pays 5 per cent interest on balances up to £2,500 - but this only for the first year. You must pay in a minimum monthly income of £1,000. 

TSB's Classic Plus account offers 3 per cent interest on the first £1,500 in your account plus you get up to £10 each month if you maintain two direct debits from the account and make at least 20 debit card payments a month (until June 2018). The account requires a £500 monthly deposit,  

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