loose change

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Bristol & West Building Society is reissuing its five-year Balanced Guaranteed Equity Bond on 2 January, which pays interest equal to the percentage increase in the FTSE 100 share index over that period. It is also offering a five-year Guaranteed Equity Bond, which pays 125 per cent of any increase in the FTSE 100 over the period. Minimum investment is pounds 500. Details from society branches.

Cheltenham & Gloucester, which recently scrapped its pledge to be at least 0.25 per cent cheaper than its big mortgage-lending competitors, is increasing its variable rate to 6.94 per cent, starting on 23 December for new borrowers and 1 January for existing borrowers.

Barclays is offering a new edition of its Guaranteed PEP, based on a unit trust that tracks the FTSE 100 share index. The trust offers full capital growth plus dividend yield. Barclays guarantees that if the investment is held for the full five years, if the value of the investment is lower than the sum invested, the bank will make up the shortfall. Minimum investment is pounds 1,000. Details from branches or call 0800 400100.

Bradford & Bingley is launching a new two-year fixed-rate mortgage, pegged at 5.74 per cent over that period without having to take out building and contents cover with the society.

Leeds & Holbeck Building Society is raising rates for savers in its investment accounts by an average of 0.26 per cent. The increase means its Capital 30, a 30-day notice account, pays 4.4 per cent gross annually on savings between pounds 10,000 and pounds 24,999, rising to 6 per cent for sums above pounds 150,000. Details on 0113 2257777.

The RAC will offer a "non-use discount" to many of its members if they do not use its roadside assistance service, giving discounts ranging between 13 and 22 per cent depending on the level of RAC membership.

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