Personal finance: BARGAIN BASEMENT

Scottish Life International is offering a six-year bond which provides 100 per cent capital security if held to maturity, plus a guaranteed bonus of 5.1 per cent a year. A further maturity bonus could increase the value to 169 per cent net after six years, depending on US and UK stock market performance. The bond is available until 22 October. Call 0131-456 6000.

Halifax is offering a five-year fixed-rate mortgage charging 6.85 per cent. An arrangement fee of pounds 195 is waived for Halifax borrowers moving home, with a free valuation. Fees of between 1 and 5 per cent apply to early redemptions until 2005. Call 01422 333333.

National Westminster Bank has asked us to point out that it does not levy a charge of pounds 50 for unauthorised overdrafts, as reported in these pages last week. Its charges are pounds 3.50 a day and interest at 33.8 per cent APR.

Matrix Securities is launching the first Venture Capital Trust to offer warrants as well as ordinary shares. The warrants can be exercised at pounds 1 in years four, five and six. The trust, called Foresight Technology, gives income tax relief of 20 per cent and allows deferral of capital gains tax. Call 0171-292 0800.