West Brom savings product launched

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West Brom savings product launched

Thu 14th Jul 2005

West Bromwich Building Society has revealed details of a new savings offering for customers.

The building society will launch the FTSE Booster Guaranteed Capital Account this weekend.

The account offers 150 per cent of any growth in the FTSE 100 index over the term and 100 per cent guaranteed return on capital.

The investment term runs from September 13th 2005 to September 13th 2011 with no additional deposits or withdrawals available to subscribers.

The minimum investment is £3,000 and funds held during the offer period will earn interest at 4.75 per cent gross per annum on a pro rata basis.

Andy Heseltine, West Brom's product manager, said: "With the growing popularity of these type of guaranteed products we have for some time now been keen to test the consumers market place nationally."

“We believe this is exactly the type of product with excellent features and benefit to do just that."

He added: "This really is a great delivery which will bowl over investors and show how serious the West Brom is on offering savers a really great deal."

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