Jun 6 2006
Parents putting aside savings for their children's school fees, first car or first home, could consider a brand new one year fixed rate savings account from Alliance & Leicester (A&L), offering seven per cent interest.
The fixed savings account from A&L is combined with an investment bond from Legal & General (L&G) which gives investors the chance to balance short-term security with long term growth potential.
'Plus' customers, those who already hold or open an A&L Premier Direct or current account, will be able to take advantage of an eight per cent rate on their savings.
L&G's investment bond aims to provide higher returns than from a typical deposit account over the medium to long-term (at least five years).
Unlike a deposit account, capital and income in the investment bond are not guaranteed and investors may get back less than they invested.
Lindsey Henson from A&L said: "This plan is ideal as it balances the need for a safe haven for short term savings, whilst giving the opportunity to invest over the longer term for potentially higher returns than from a typical deposit account.
"The Balanced Savings & Investment plan suits those who are looking to make their money work harder, but still like the security of keeping some of their money in cash."
JP Morgan Asset Management also offers a variety of investment opportunities including trust child saving plans, for more information click on our free brochures page.
