Investec Private Bank has launched an enhanced income product offering 4.25 per cent a year or more if the UK stock-market performs well.
The Investec Income Deposit offers a minimum return of up to 8.5 per cent over two years with capital protection. It the Ftse 100 grows by 13 per cent in year one the enhanced return is 6 per cent AER gross, and if it grows by 26 per cent in two years the enhanced return is 7 per cent AER.
The product is open until February 28, 2006 with a minimum deposit of £50,000. It is eligible for investment by private clients, personal pensions, trusts and an offshore bond.
Investec Private Bank spokesperson Linda McBain says: “This product offers 100 per cent capital protection, attractive returns when compared to savings accounts and the opportunity to enhance these.”