The Cheshire launches new Guaranteed Capital Plus Account

Cheshire Building Society has launched a new Guaranteed Capital Plus Account (GCPA), provided by Credit Suisse International.

It offers investors the potential for growth up to a maximum of 60% over five years, depending on the performance of the FTSETM 100 Index.

The GCPA is a great opportunity for investors to make more of their savings with the reassurance that their capital is 100% secure and they are guaranteed minimum growth in their savings of 21.5% gross at maturity, if held for the full five year term, regardless of what happens to the FTSETM 100 Index.

The account is available for a limited period until 28 August 2008, or earlier if fully subscribed, for new Cash ISA subscriptions for the 2008-2009 tax year and direct deposits outside of an ISA and 14 August 2008 for ISA transfers from other organisations. The minimum investment is £3,600 with a maximum investment of £3,600 for 2008-2009 Cash ISAs, full value for ISA transfers and £45,000 for direct deposits outside of an ISA.

Frank Harrington, Head of Partnerships at Cheshire Building Society, commented: "The Guaranteed Capital Plus Account gives savers the best of both worlds in an uncertain market. It offers the potential to benefit from stock market growth with a guaranteed minimum return of 21.5% gross, provided the plan is held for the full five year term. It is ideal for cautious investors who value that reassurance.

"It should also be particularly attractive to savers who have existing ISA balances that they know they won't need access to in the medium term. These can simply be transferred to Guaranteed Capital Plus which would retain their tax free status and provide the potential for a better return than they may be currently getting."

For more information, visit thecheshire.co.uk.