Abbey launches guaranteed stockmarket plan

Abbey has launched a new Stockmarket Growth Plan linked to the FTSE 100 Index. It offers 100 per cent of any rise in the index up to a maximum of 80 per cent, at the end of a five-and-a-half year term. It also offers a guaranteed minimum return of six per cent if the FTSE 100 goes down or stays the same during the same term.

The guaranteed six per cent return and potential for 100 per cent of any rise in the FTSE only applies if customers leave their money invested for the full term.

Reza Attar-Zadeh, Head of Savings and Investments at Abbey, said “It is understandable that people are sometimes put off investing in the stock market by the fear of losing their hard-earned savings. However, this means that too many are missing out on potentially good returns.

“The Guaranteed Stockmarket Plan is the latest in Abbey’s series of products which offer customers a capital secure way of investing in the stockmarket and generating a high probability of a return in excess of current savings rates.”

Minimum investment in the Plan is £1,500. The Plan is available until 18 December 2007.