Abbey and Alliance & Leicester launch new investment products

Consumers seeking the best savings rates should note that Abbey and Alliance & Leicester have launched a new range of guaranteed investment products.

According to the institutions, they are designed for savers looking for the security of a capital guarantee with a minimum return.

For those investing outside an ISA, the annual capital gains tax CGT allowance can be used to mitigate any potential liability, while those within an ISA will benefit from returns free of income tax and CGT.

Simon Taylor, head of investments at Abbey, said the society's guaranteed investment products are designed to appeal to investors looking for potentially attractive returns but without risk to their capital.

He added: "With no third party involvement, our range is provided by Abbey and invested with Abbey, part of one of the world's largest banks, Santander, so investors can also be assured that their money is in safe hands".

Last week, National Counties Building Society claimed that its Stepped Rate Bond offers "peace of mind" to savers, knowing that if they need capital returned to them for any reason, they have regular access.

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2009-10-06 15:40:57 © Moneyextra.com