Money News
Legal & General's next tranche of capital protected investment, Growth Investment Plan Plus 13, is now available for a limited offer period running through May 2nd. As this plan is available for investment across the two tax years 2007/2008 and 2008/2009, the total amount that ISA investors could theoretically pay into Growth Investment Plan Plus 13 is £14,200.
Investors will benefit from 100% protection at maturity plus a return of 100% of any capital growth in the FTSE 100 Index over the investment's 6 year term (maturing on May 7th 2014).
Although Growth Investment Plan Plus 13 is a 6 year investment, the plan includes an early payment feature (sometimes referred to as a 'kick out' feature), which means that if the Footsie grows strongly the investment could close early. The early payment feature (25%) will be activated if the index has grown by 15% or more at the third anniversary (May 9th 2011).
Investment is available as a maxi ISA, mini stocks and shares ISA, for PEP/ISA transfers and direct share investment.
Minimum investment is £500. For the current 2007/2008 tax year the maximum investment for maxi ISAs is £7,000 and for mini stocks and shares ISAs £4,000. For the 2008/2009 tax year the maximum investment in an ISA is £7,200. There is no limit for PEP/ISA transfers and direct share investment.
19 March 2008 © Moneyextra.com
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