Guarantee of income

WOOLWICH Life, the building society's subsidiary, is launching a three-year guaranteed monthly income account on Monday. The minimum investment is pounds 5,000. Investors who put in less than pounds 15,000 will get a rate of return of 4.6 per cent net. Larger investments will attract 4.8 per cent.

The monthly income on the account can be paid direct into a Woolwich account or transferred into a bank account. People who are interested in the Woolwich Life Guaranteed Income Account should write to the Woolwich Building Society, department GIA, Freepost, Bexleyheath, Kent, DA7 6BR (or telephone free 0800 400900).