Laurentian Life leads the market

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The Independent Online
Laurentian Life is leading the market in guaranteed income bonds with a savings rate 0.35 percentage points higher than its nearest rival, Liberty Life, on five- year investments of pounds 50,000. The two life companies are also providing the most competitive rates on pounds 10,000 investments: the Laurentian rate is 8.75 per cent, and Liberty's is 8.4 per cent.

Chelsea Building Society has relaunched its Premier Account (4th 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.

Alliance & Leicester has a new 90-day notice account, which pays a bonus of 0.5 per cent to investors who make no withdrawals in a year. Interest ranges from 7.25 per cent gross (5.43 net) to 9.5 per cent (7.12 net).

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