Spotlight On: Nationwide's football bond

The deal: Nationwide will pay 4.15 per cent gross for four years, plus an extra 0.5 per cent if England win the World Cup.

The good points: A potential 4.65 per cent looks very competitive at the moment. You only need £1,000 to open the bond.

The bad points: The bonus only comes into effect from May 2011 if England win the World Cup this summer. Why not from the moment the World Cup is won? If England don't win the World Cup, you'll be left with 4.15 per cent on your four-year bond. There are better rates available than that.

The conclusion: This seems like a bit of fun but it could end up costing you if you end up with less interest than if you chose a better-paying account. Even if Santander launched a deal linked to Spain winning the World Cup, it would still be a risk, especially if Torres is injured.

Ignore the gimmicks and choose your savings deal on the basis of best returns. Also ask yourself whether you really want to lock your cash away for four years.