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Fsharp, the Isle of Man based Internet branch

Fsharp, the Isle of Man based internet branch of the Bank of Ireland has introduced the top20 account.

Top20 is an internet based deposit account with a difference, as it comes in two halves. The first part is an ordinary deposit account that pays an interest rate of 20 per cent over the two year term.

The second part is a capital protected deposit account that is linked to the FTSE 100, Nikkei 225, Standard & Poor&#39s 500 and Dow Jones Eurostoxx 50 indices produce over three years. In the event that the indices do not grow at all, the investor will still get all their original capital back.

Providing a low risk approach to investing in the indices will prove popular with many cautious investors. When coupled with the high interest rate this makes a very attractive product.

Over a three year period the FTSE 100 index rose from 4870.197 points on September 1 1997 to 6672.66 points on August 31,2000.


IF forced to delay launch a second time

Halifax has been forced to postpone the launch of its online bank Intelligent Finance for a second time. After delaying it in July 24 hours before it was due to go live, Halifax conceded IF would not be available to consumers until this month contrary to previous plans to launch it in August. IF chief […]

Jersey institutions reject calls for independence

A senator in Jersey&#39s parliament has called for a referendum on independence in response to the threat of closer scrutinyof the island&#39s tax regime.The move has prompted discussions about how independence would affect the financial status of Jersey.Senator Paul Le Claire has called for a referendum of the 90,000 islanders on the question of independent […]

Britannic takes major share of First Active arm

Britannic has become the major shareholder in First Active Financial, the UK specialist mortgage arm of Irish bank First Active.Britannic, the Birmingham-based financial services group, will take a 60 per cent share in First Active Financial, the remaining 40 per cent staying with First Active.Britannic&#39s stake totals £57.2m. It will pay an initial payment on […]

Blight puts bite on pension and endowment business

The latest ABI figures make grim reading for the industry, with a slump in endowment sales and contiued pension planning blight.The figures for the second quarter of the year reveal sales of mortgage-related endowments plummeted to 72,000 new contracts compared with 165,000 in the same period last year. Regular-premium pension plan sales also dropped by […]


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