Abbey guaranteed growth plan announced

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Abbey guaranteed growth plan announced

Thu 24th Apr 2008

Abbey has announced the launch of its new guaranteed growth plan (GPP), which is available for 3.5 or six years.

The 3.5-year plan guarantees a minimum return of five per cent or 50 per cent of the FTSE 100, capped at 35 per cent.

Customer's singing up to the six-year plan will receive a guaranteed minimum return of 20 per cent or 50 per cent participation in the FTSE 100 Index, capped at 60 per cent.

The GPP is available from April 23rd until June 24th, although it may close earlier if its sells out. Minimum investment is £1,500.

Reza Attar-Zadeh, head of savings at investments at Abbey, said: "Abbey's Guaranteed Growth Plan gives investors exposure to equity markets without putting their capital at risk. It also ensures them a guaranteed minimum return, regardless of the stock market performance."

Earlier this week, Abbey launched an instant access savings account, paying a rate of 6.5 per cent gross on balances over £1,000.

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