RBS launches new guarantees

ROYAL Bank of Scotland has launched two new issues of its Guaranteed Income Account. The two-year scheme offers guaranteed returns of 7.25 per cent on savings above pounds 25,000 or 6.75 per cent for amounts below pounds 10,000.

The five-year plan pays 6.5 per cent gross in year one, rising to 11.5 per cent. Monthly income payments are available.

Halifax Building Society has raised the gross interest paid into its offshore account. Deposits above pounds 10,000 will receive 5.6 per cent if invested for six months. This rises to 8.6 per cent gross for a five- year period.

Coventry Building Society is launching a three-year bond with a fixed rate of 8.8 per cent gross. Interest can be paid monthly, annually, or compounded and paid out at the end of the three-year period.