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L&G offers 5.75 per cent on new account

Legal & General has launched a new fixed rate savings account with an interest rate of 5.75 per cent gross.

The Term Savings Account – Issue 8 opens for investments this month and the rate will be fixed for one year after the account is set-up.

Accounts can be opened with a minimum deposit of £2,500 and the maximum that an individual can invest is £1,000,000.

Legal & General Bank marketing director Mike Hughes says: “In the current climate of equity market uncertainty many savers will welcome the opportunity of a fixed return.”

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