Loose change

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The Independent Online
Citibank is increasing the rates paid on its sterling current accounts and high-interest savings accounts. On savings between pounds 2,000 and pounds 9,999, the rate paid is 4.75 gross, rising to 6 per cent gross on deposits above pounds 50,000. Call 0800 008800.

Alliance & Leicester is offering customers who open a new current account with the former building society a pounds 30 credit. To qualify, customers must open the account before 31 October and deposit at least pounds 300. Students must pay in a grant cheque. Call 0500 959595.

Cheltenham & Gloucester is increasing the cost of its fixed-rate mortgages. Two-year fixed rates rise to 7.19 per cent, while four-year fixed rates will increase to 7.49 per cent.

Abbey Life is launching a five-year Guaranteed Capital Growth Bond, which guarantees a 20 per cent return on the investment, or the chance to gain up to 70 per cent growth in the FTSE 100 share index. Minimum investment level is pounds 5,000. Call 0800 202040.

Save & Prosper is to launch an open-ended investment company, a new type of fund available in the UK. The fund will specialise in Eastern European investments and will be managed by Fleming, S&P's parent company. Call 0800 829200.

Portman Channel Islands, the building society's offshore arm, is launching a one-year fixed-interest bond paying 7.25 per cent gross on deposits of as little as pounds 500. Call 01481 822747 or access the society through its Internet site on http://www. portmanci.com

Fidelity will keep its Tonbridge office open until midnight on Sunday 17 August to accept holders of Woolwich shares who want to PEP their holdings for free. The company will accept shares from people who have yet to receive certificates from Woolwich, as long as they are certified as free. The address is Oakhill House, 130 Tonbridge Road, Hildenborough, Tonbridge, Kent, TN11 9DZ. Call 01732 777261.

Bank of Scotland's direct banking arm is linking a chequebook to its highest-rate deposit account. Customers will receive 24-hour banking and immediate access to their funds. Interest paid is 5 per cent gross on deposits up to pounds 4,999 and 6.5 per cent gross thereafter.

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