A Portuguese bank has this week asked savers to bet on the interest rate they'll get for their investment.In one of the more novel ways of riding out the current banking crisis, a Portuguese bank is trying to entice customers to deposit funds with it, with the level of interest they can earn being determined by the outcome of a bet.
Savers are being encouraged to deposit up to Eur 50,000 each into Banco Best's 60-day deposit account, and to place a bet on the outcome of the US presidential election.
Back the right candidate and the bank will pay out 8% interest on your deposit. If your candidate loses however, so do you, receiving a mere 2% interest instead.
The Obama/McCain deposit account is being offered until November 3rd. The initiative comes at a time when European governments are scrambling to guarantee bank deposits in order to calm investor fears during the deepening global banking crisis, and the Portuguese bank hopes to secure an additional Eur 10 million in deposits through the promotion.GOONER ADDS :
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