Loose change

MERCHANT INVESTORS is launching a single premiums investment bond, the Capital Investment Portfolio, which invests in a choice of up to 60 leading funds. The bond has a minimum investment of pounds 10,000, with varying allocation rates. The annual management charge is 0.75 per cent, plus an extra "establishment charge" in the first five years. There is a tapered surrender charge in the first five years. Call 0800 374857 for details.

FIRST ACTIVE, the telephone-based home loans and savings company, has re-introduced its successful "rate tracker" account, which guarantees to pay savers the average of the 20 highest rates on the market for no- notice accounts. The account, launched with a gross rate of 5.6 per cent, is calculated on the basis of balances of pounds 10,000, although the minimum balance in the case of First Active will be pounds 1,000. Interest is calculated daily and paid annually. Call 0800 558844.

WOOLWICH HAS launched a last-minute fixed-rate follow-on Tessa, paying 5 per cent. Customers with a Tessa which has matured in the last six months and who have between pounds 500 and pounds 9,000 of capita;l are eligible to invest in the Tessa. Details from any Woolwich branch.

MORTGAGE INTELLIGENCE, a nationwide network of almost 380 brokers, is launching a buy-to-let home loan charging a fixed rate of 5.75 for three years, with no redemption penalty at the end of the fixed period. The minimum loan is pounds 175,000, up to a maximum of pounds 1m. There is a 1 per cent completion fee. Call 0500 101033.

CIGNA, THE insurer, is launching a new policy offering drivers cover against personal injuries. Call 0121 3553567 for details.