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L&G&#39s protected plan offers 21% minimum

Legal & General&#39s latest capital-protected product is offering a minimum return of 21 per cent or 50 per cent of any growth in the FTSE 100 index, whichever is greater at the end of six years.

Capital Protection Plus 2, which is available for a six-week period until February 27, has been given a low-risk rating by L&G.

It says the minimum return is equal to a compound interest rate of 4 per cent a year for six years for a basic-rate taxpayer.

L&G says investors can expect a maturity payout of at least £8,470 on a £7,000 investment, even if the FTSE falls.

Commission is 3 per cent although no commission is paid on switches from existing L&G investments.

Retail investments marketing director Claire Stracey says: “Capital protection plus 2 will provide investors with returns close to current bank or building society deposit account rates even if the FTSE 100 falls.

“On the other hand, if the FTSE 100 index rises strongly, they will have the potential for an even bigger return than current deposit rates.”

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