This is ridiculous enough that I think it’s worth sharing. FirstTrust Bank offers a 7 month CD, but the interest rate they offer on that CD will vary based on the number of points the Philadelphia Eagles score in each 2016/2017 regular game. The base rate is 0.50% and it increases by one basis point for every point they score that week.
So for example if they score 30 points then the rate will be 0.8% APY (0.50% base rate + 0.30% bonus rate). That rate is valid for the business day following that game and must be purchased and funded by the business day preceding the next game.
To give this promotion some perspective, they have only won five games this season and their highest score has been 26 (that resulted in a rate of 0.76%). As a savvy reader, you’ll know that rate is complete junk considering you can get a rate of 1.35% on a basic savings account or 5% on a rewards account.
This is a pretty smart promotion though, I certainly wouldn’t be talking about FirstTrust Bank if weren’t running this promotion. All of that being said, saving for your future isn’t a game and it’s extremely important to make sure you’re getting the best rate possible – so I’d recommend avoiding this promotion unless Philadelphia manage to score 85+ points.
Hat tip to reader A
