Laurentian Life is still leading the market in guaranteed-income bonds. Cannon Lincoln offers a two-year GIB at 8.5 per cent, with a minimum investment of just pounds 2,000.
Exeter Bank's Tessa is the highest rate on offer with no transfer penalties. Allied Trust Bank is still offering 12.68 per cent, but the minimum investment is pounds 9,000 up front.
Chelsea Building Society has relaunched its Premier Account (fourth issue), which provides high interest rates but heavily penalises borrowers who remove funds in the first two years. Deposits of pounds 10,000 attract a fixed gross rate of 11.75 per cent (net 8.81 per cent) until 1 February 1993. But any withdrawals before 31 January 1995 require 30 days' notice and will lose 30 days' interest.