YBS offers new Protected Capital Account

Yorkshire Building Society is offering savers a great rate of return on their investment in a new product linked to Stock Market performance, whether share values rise or fall.

The Yorkshire's new Protected Capital Account - Fixed Growth 6 offers a return of 34% payable on maturity, equivalent to 5% gross/AER, as long as the FTSE 100 index does not fall below 60% of its starting level at any time during the six year term.

If the index does fall below this level during the term, investors will receive 6.15% gross, equivalent to 1% gross/AER.

Darren Smith of Yorkshire Building Society said: "The benefit of this product is that even at a time of so much economic uncertainty, investors can benefit whether they have a positive or negative outlook on the FTSE 100 Index, and avoid the risk to their capital.

"A similar Fixed Growth product was offered back in 2009 during similar economic upheaval and after feedback from our customers we felt it was time to re-introduce it again."

The Protected Capital Account - Fixed Growth 6 will be available until 5th April.

Customers can save between £3,000 and £85,000 and the account is available for tax free returns using their 2011/12 Cash ISA allowance - and/or their 2012/13 Cash ISA allowance - and Cash ISA transfers from previous years, as well as non-ISA deposits.

The product, manufactured by Credit Suisse, will be available through brands of the Yorkshire Building Society Group (Yorkshire Building Society, Chelsea Building Society and Barnsley Building Society) and can be opened both in branch and on the Yorkshire's website ybs.co.uk.