Leeds launches Guaranteed Capital Account

27 January 2006
Leeds Building Society started a new product which offers customers a 100 per cent capital guarantee, as well as the potential to benefit from any growth in the FTSE 100 index.

The new Guaranteed Capital Account gives a minimum return of 115 per cent of the capital invested or up to 160 per cent, dependent upon the FTSE 100's performance.

A 100 per cent capital guarantee is also available, as well as an extra one per cent early investment bonus.

The account has a six-year term, which allows the investment longer to grow and mitigate the effects of any short-term fluctuations in the stock market.

Trevor Garside, senior financial services manager at the Leeds, said that the FTSE is showing an upward trend and has seen increases of 11.7 per cent in 2003 and 6.7 per cent in 2004. Last year saw a 15.9 per cent increase and Mr Garside said that many customers would like to benefit from this growth.

"Our product makes that possible, combining the potential FTSE returns with capital guarantees and a guaranteed minimum return of 115 per cent plus an early investment bonus of up to one per cent."

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