Balanced savings plan issue 27
This offer has now ended.
The Co-operative Bank is pleased to offer you this opportunity to help make the most of your savings with our Balanced Savings Plan. This features the guarantee of a fixed interest rate on half your investment combined with 80% of any average rise of the FTSE100 index, on the other half over 5 years – but without any risks to your capital*.
How it works:
Half of your investment goes into a Fixed Term Deposit for 12 months where:
- You get a guaranteed interest rate of 6.25% gross/AER.
- It commences when your cheque/funds have cleared and matures 12 months later.
The other half of your money is invested in our Guaranteed Savings Bond (Issue 27) which pays 80% of any average rise in the FTSE 100 index and is invested over five years. This is paid to you at maturity. (see how your interest is calculated)
- There is no upper limit on what you can earn although a nil or negative market would produce no interest.
- Your money is held in a Co-operative Bank account and is not directly invested in the stock market, so you will receive no dividend income.
- You’re not exposed to the risks of direct stock market investment. So, should the market perform disappointingly, the most you would lose is the interest you could have earned by putting your money into an ordinary deposit account.
- At the end of the five year period you are guaranteed the full amount back of the half of your money invested in the Guaranteed Savings Bond.
- It commences on 11th July 2008 and matures on 11th July 2013.
There are no fees and no charges to pay. See terms and conditions.
Get your questions answered here.
*The Co-operative Bank is a member of the Financial Services Compensation Scheme established under the Financial Services and Markets Act 2000. In respect of deposits with a UK Office, payments under the Scheme are limited to 100% of the first £50,000 of the depositors total deposits held with the Bank. Visit www.fscs.org.uk for details.
Product Summary
| Product Structure | Investment is split between a Fixed Term Deposit and a Guaranteed Savings Bond (Issue 27) |
|---|---|
| Fixed Term Deposit | 6.25% gross/AER – this half of your investment matures in 12 months. |
| Guaranteed Savings Bond (Issue 27) | 80% gross of any average rise in the FTSE 100 Index. This half of your investment matures on the 11th July 2013. |
| Total Investment | Minimum Deposit £3,000 Maximum Deposit £1,000,000. Original deposit is split equally between the two accounts |
| Charges | No upfront set up or management fees. The cost of providing the guarantee is reflected in the offer and reduces the potential return when compared to direct stock market investment |
| Access | No withdrawals or additional deposits permitted even in an emergency |
| Cancellation | Within 14 days of the start of your Guaranteed Savings Bond being opened. |
| Taxation | Interest paid net of lower tax rate. |
see how your interest is calculated
Calls to 0845 numbers will cost no more than 4p per minute for BT customers. Call charges from other companies may vary and you may want to check this with your service provider.
Calls may be monitored or recorded for training and security purposes.
