Zurich introduces fixed term deposit account

Zurich has launched a new Fixed Rate Deposit Account aimed at those advisers and clients looking for the certainty and security provided by a fixed return.

Available from 1 December, the term account pays 5% gross annual interest (5.06% AER) which is fixed for the six month term of the account. Applications will be received on a ‘first come, first served basis' and the product will close for business when the tranche reaches its maximum capacity.

Paul Wright, Investment Management Director comments: "This is a great savings opportunity in these turbulent economic times which provides a guaranteed level of income for six months. It's an ideal short-term home for those wanting a competitive fixed rate of interest and will also appeal to those customers with investments which have matured and are looking to switch to cash."

The minimum deposit of the account is £10,000 and the maximum is £500,000 and applicants must be aged over 18, although applications can be made on behalf of minors.