A rising bond

BANK of Scotland has launched an investment bond that has guaranteed rising returns reaching as high as 12 per cent.

The stepped-rate bond is aimed at savers who wish to invest between pounds 5,000 and pounds 250,000 for a fixed period of either three or four years.

Midland Bank is offering a three-year stepped savings bond with interest rates that increase every six months.

Interest rates range from 6.5 per cent to 10 per cent. The minimum investment is pounds 2,000.

Woolwich Building Society has launched the sixth issue of its guaranteed growth bond with effect from last Wednesday.

The interest rate ranges from 7.4 per cent to 12.2 per cent.

----------------------------------------------------------------- SIX OF THE BEST ----------------------------------------------------------------- Savings ----------------------------------------------------------------- Type Account Term *0% *25% *40% Min (pounds) GIB General Portfolio 5 years 7.70 7.70 6.55 50,000 B Soc Nottingham Instant 6.50 4.88 3.90 25,000 Tessa Market Harborough 5 years 7.60 7.60 7.60 9,000 *Compounded annual rate except for GIB (guaranteed income bond) ----------------------------------------------------------------- Source: Chase De Vere 071-404 5766 ----------------------------------------------------------------- Mortgages ----------------------------------------------------------------- Type Source Deal Variable Alliance & Leicester 6.5% up to 90% loans* Fixed Britannia 8.15% 1.9.99 on 60% loans fee pounds 275 Capped Bristol & West 5.75% for 2 yrs on 90% loans fee pounds 275 ----------------------------------------------------------------- *1.6% discount for 3 years Source: John Charcol 071-611 7000 -----------------------------------------------------------------