SPANISH BANK GOES AFTER SOCCER FANS
By Adnews Staff
A Spanish bank is trying to attract depositors by giving them the chance to bet on soccer teams. The bank is offering a higher rate of interest to customers who guess how well the teams do. Called Champion Deposit, the program involves depositing a minimum amount of money over three years, with a top interest rate of 13% for the depositor who selects the right team. The sporting customers have three chances. It they choose the winner of the league they get 13% interest. Choosing any team in second to fourth place wins 11% interest, while betting on a team that avoids the basement and demotion to a lower level pays 8%. Depositors who guess out of the money get 4%, just below present market rates. The bank doing the promotion is state-owned Argentaria SA.