Yorkshire launches new Guaranteed Investment Account

On Friday 29th August, Yorkshire Building Society is launching a new Guaranteed Investment Account that will allow savers to benefit from the potential growth in the stock market over the next six years, without the risk of buying shares.

The account which is available exclusively through the Society's website, www.ybs.co.uk, fully guarantees all capital invested and provides a minimum return of 30% (equivalent to 4.47% AER). The maximum return, linked to the FTSE 100 Index, is set at 60% (equivalent to 8.37% AER). An additional 2% interest bonus will be added to accounts opened before the end of September, giving a minimum return of 32% and a maximum 62% over the six years. Savers can also use the account as an alternative to the traditional cash ISA, ensuring the return is received tax-free.

The minimum investment in the account is £3,600 with a maximum of £1m. For ISA savers, transfers from existing ISAs are permitted. There will be no access to the funds during the term of the account and interest will only be added at the end of the term.

David Jackson, Yorkshire's head of e-commerce said "This new addition to our online savings range gives customers access to the potential returns of the stock market without the associated risks. Given the minimum return for savers who open the account in the first month is a very healthy 32% over the six years, this is a great deal for anyone looking for guaranteed growth with potential for more".