Offshore savings bank Britannia International has launched two new issues of its Guaranteed Capital Bonds range for the UK offshore market.
The two new bonds are linked to the FTSE and pay a fixed return of 13% gross (4.16% AER) for the three-year investment and 31% gross (4.60% AER) for the six-year version, if the underlying index is at or above its strike level over each of the term, subject to averaging.
Britannia said it had launched the products in light of the latest forecast from the Centre for Economics and Business Research, which predicts that the Bank of England base rate will remain at 0.5% for at least all next year and will still be below 2% in 2014. "This latest forecast highlights the challenges that savers are having in the current economic climate," said Britannia International managing director Mark Beresford.
Minimum investment is £5,000.
These products will be available shortly in Recent Additions (UK, and Offshore and Other).