Bank of Scotland account 'launched'

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Bank of Scotland account 'launched'

Bank of Scotland International has launched a new account which guarantees the return of customers' initial outlay.

The 50:50 five-year sterling and US dollar capital guaranteed savings bond requires a minimum investment of £10,000 or $20,000 from its release today, until the closing date for applications on June 14th 2007.

Under the five-year Bank of Scotland account, half of the capital will be invested for one year at a fixed rate of 12 per cent.

The other half will be tied to a basket of indices, including the Nikkei 225 and the Swiss Market Index, over five years.

At the end of the term, the Bank of Scotland account customers will receive half of the remaining capital, along with 83 per cent of the rate increase experienced in the basket of indices.

Tony Wilcox, managing director at Bank of Scotland International, said the bond "not only provides customers with a guarantee on their initial capital investment, but also gives them the opportunity to benefit from the growth potential of the stock market".

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