Yorkshire Building Society offers new Protected Capital Account

Thursday, 26 January 2012 10:38

Yorkshire Building Society has announced the details of its new Protected Capital Account - Fixed Growth 6, which is linked to stock market performance.

Savers will be able to benefit from a return of 34 per cent or five per cent gross/AER provided that the FTSE 100 index does not dip below 60 per cent of its starting level during the six-year lifespan of the product.

If it does decrease below this, the rate will decrease to 6.15 per cent gross.

Yorkshire Building Society's Darren Smith said: "Even at a time of so much economic uncertainty, investors can benefit whether they have a positive or negative outlook on the FTSE 100 Index and avoid the risk to their capital."

The product is available at any branch or online until April 5th 2012 and customers can deposit between £3,000 and £85,000.

Earlier this month, the building society announced that it has cut the interest rates on its fixed-rate mortgage products.
 

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