Post Office has launched a new savings option for UK consumers.
Dubbed the Fiveyear, the new savings account may suit customers looking for returns from their savings over the medium-term.
The five-year, fixed-term deposit bond will offer savers a guaranteed capital return, in addition to growth linked to the equities market.
Earning consumers a return on their savings in two disparate ways, the savings account pays a flat rate on 6.25 per cent of the deposit over the five-year term, while the other half will see a 50 per cent return on any increase in the FTSE 100.
Richard Norman, head of savings and investments at Post Office, said: "Our customers told us that they liked the idea of a balanced investment where they earn a guaranteed return, whilst still having access to the growth potential of the FTSE-100 Index.
"With Post Office Fiveyear Saver there is no risk of losing your original deposit and you can invest from just £500."
Post Office now offers a range of financial services, including credit cards and insurance.
New savings account from Post Office
New savings account from Post Office
Fri, 06 Oct 2006
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