Abbey and A&L launch new guaranteed investment products

From Monday 16 November, Abbey and Alliance & Leicester are launching their latest range of guaranteed investment products for savers looking for the security of a capital guarantee with a minimum return.

Simon Taylor, Head of Investments, said: "Our latest range of guaranteed investment products is designed to appeal to savers looking for potentially greater returns than those currently available on standard cash savings accounts but without risk to their capital. Offering a capital guarantee and with no third party backing, our guaranteed investment products are protected by Abbey with the backing of Santander, one of the world largest banks, giving savers reassurance that their money is safe with us".

There are two ways to invest in the plans:

Outside an ISA - Annual Capital Gains Tax allowance can be used to mitigate any potential liability (currently £10,100 for 2009/10)

Within an ISA (only available for the 5.5 year options) - under current tax legislation, returns will be free of Income Tax and Capital Gains Tax.

The product will be of interest to customers who are willing to keep their money invested for the full 3.75 or 5.5 year term and can also be used as the investment element of the Abbey and Alliance & Leicester Super Saver and Super Direct ISA.

These offers are only available for a limited time and investors who wish to apply can visit an Abbey or Alliance & Leicester branch to book an appointment with a Financial Advisor.