L&G launches third 6 Year Growth Deposit Bond

Legal & General has launched the third plan in its series of 6 year deposit bonds, which offer savers the potential for capital growth linked to the performance of the FTSE 100 Index plus the security of knowing their original capital is protected at the end of the fixed term.

The new product, 6 Year Growth Deposit Bond 3, is available to IFAs for a limited 8 week period from Monday 23 August to Friday 15 October 2010.

6 Year Growth Deposit Bond 3 is a six year fixed term deposit plan that offers investors 200% of any capital growth in the FTSE 100 Index, up to a maximum of 45.5% of their original investment, plus the return of that original investment at the maturity date, which is 4 November 2016.

Legal & General's Head of Business Development, James Harrington said, "The launch of our third deposit bond this year confirms our commitment to offer customers the opportunity to invest in products with returns reflecting the performance of the FTSE 100 Index, whilst minimising risk.  6 Year Growth Deposit Bond 3 should prove extremely attractive for many customers who are seeking a potential return that exceeds the rates they could achieve by leaving their money in a traditional deposit account. I believe this launch is particularly timely as the prospect of a long period of relatively high inflation in the UK, which has been raised by many commentators over recent weeks, is likely to prompt savers to search for inflation beating investments. Plus, they could also benefit by investing in a cash ISA tax free."

The minimum investment is £500 and the bond is available as a deposit plan (for individuals, pension trustees, charities and corporate applications) and for cash ISA transfers for which there is no maximum. It is also available as a cash ISA for the 2010/2011 tax year for which the maximum investment is £5,100 (the closing date for ISA applications is 1 October to allow time for completion of transfer before the offer close date).