Alliance & Leicester extends offer period for fixed rate savings and investment bond
www.moneynews.co.uk > General finance > Alliance & Leicester extends offer period for fixed rate savings and investment bond
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Money News |
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Alliance & Leicester extends offer period for fixed rate savings and investment bond
Tue 1st Jul 2008
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It is available to customers investing in the Balanced Savings & Investment Plan, which combines a one year fixed rate savings account from Alliance & Leicester with an investment bond from Legal & General.
The bonds are intended to return more than a typical savings account in the medium to long-term of five years or more.
Capital and income in the investment bond are not guaranteed but investors in the savings account are told that their savings will "grow to a guaranteed sum" at the end of the one-year term.
Matt Hall, head of savings and investments at Alliance & Leicester, said the plan was suitable for "those looking to make their money work harder, but still like the security of keeping some of their funds in cash."
Bonds grew as retail sales slumped in May, according to Investment Management Association figures reported by Citywire.
Net retail sales dropped from £1.5 billion in April to £653.3 million in May, with £366 million of this put into bond funds.
Related News : General finance |
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Related News : Alliance & Leicester |
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Related News : Legal and General |
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