Barclays Wealth reissues brand-new structured deposit

Consumers looking for the best savings interest rates may wish to check out Barclays Wealth's structured deposit which is aimed at people seeking an alternative to traditional deposit accounts.

The Barclays Wealthbuilder is linked to the FTSE 100 index and aims to provide investors with a maximum return of 31.2 per cent after six years.

Barclays Wealth's deposit, which was first launched for retail investors in September, locks in 5.2 per cent on each anniversary that the FTSE 100 index is at or above its starting level.

Lisa Chaudhuri, vice president Barclays Wealth, said: "Wealthbuilder is designed to offer an alternative to traditional deposit accounts as it offers the opportunities to lock in profits, therefore giving the chance to ring-fence growth during the term."

She expects the product to be very popular as it offers attractive returns at a time when savings interest rates are low.

Legal & General recently reissued its six-year deposit bond for a limited eight-week period linked to the growth in the FTSE 100 index.
 

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2011-01-06 15:26:20 © Moneyextra.com