Short term high growth deposit plan: Potential 14.5% fixed after 2 years…
The UK 2Y Growth Deposit Plan from MB is capital protected, and offers a fixed return of 14.5% provided the FTSE 100 Index at the end of the two year term, is at or above its value at the start of the plan. By linking your return to the FTSE, this plan offer the opportunity for higher returns, but without risking your capital.
As with other cash deposits, your capital is fully protected and eligible for FSCS protection up to £85,000 per person. The plan is available as a non-ISA deposit, as well as an ISA, where deposit rates are usually lower than their non-ISA counterparts, and will accept ISA transfers.
The 14.5% return is equivalent to 7.25% per year (not compounded), which is significantly higher than any other current fixed rate cash based product. The downside is that the return is not guaranteed, and so if the FTSE ends lower, you only get your initial capital back.
Important Information: This is a structured deposit plan and is capital protected. There is a risk that the company backing the plan or any company associated with the plan may be unable to repay your initial investment and any returns stated. In this event you may be entitled to compensation from the Financial Services Compensation Scheme (FSCS), depending on your individual circumstances. In addition, you may not get back the full amount of your initial investment if the plan is not held for the full term.
Target return – 14.5% if the FTSE 100 Index is higher at the end of the term
Capital Protected Product
Eligible for the Financial Services Compensation Scheme up to £85,000 for an individual or up to £170,000 for a joint deposit account
Available for Cash ISA, ISA Transfer and Direct Investments. Also available to businesses, charities, trusts and SIPP and SSAS pension schemes
Investment term: 2 Years
Arrangement fee applies
Minimum single investment: £5,000
Maximum ISA investment: £20,000
No maximum for ISA transfers and non-ISA investments
ISA Transfer Applications: 10 January 2024
Direct & ISA Applications: 29 January 2024