Nationwide launches new protected equity bond

Nationwide Building Society has launched a new protected equity bond, designed to offer its customers access to competitive savings rates.

The new bond is available in both deposit and ISA options and pays a minimum return of seven per cent gross, plus the potential for further stock market linked capital growth at the end of six years.

Savers who invest in the protected equity bond will also have the opportunity to take out a one of three year combination savings bond paying up to 3.25 per cent and 4.10 per cent gross per annum/AER.

Customers also have the option of transferring in their previous years' cash ISAs, including any held with other providers, without it counting towards their current year ISA allowance.

Robin Bailey, Nationwide's director for savings and investments, said: "The continuing uncertainty in the stock market makes many would-be investors wary.

"That's why we offer access to the protected equity bond, as it combines the potential returns associated with stocks and shares with the same security as any other bank or building society account customers have.

Nationwide recently launched a new 18-month fixed-rate ISA, paying a market-leading savings interest rate of between three and 3.25 per cent per annum/AER.
 

Moneyextra.com recommends you take independent financial advice before acting on any article

Back

2011-02-23 15:45:23 © Moneyextra.com