Financial services provider Saga has announced that it will be increasing the rate of interest available on its savings products with the launch of two new bonds .
One of the new savings vehicles, which will be available online, offers the possibility for a 22 per cent gross return on one's stake. Named the 30-Month Trigger Guaranteed Equity Bond.
Saga commented: "This bond is linked to the performance of the FTSE 100 index over a 30-month period but offers a return of 22 per cent gross (8.24 per cent AER) providing the average of the FTSE 100 Index has not fallen."
Those who do not wish to have their savings locked up for so long can take advantage of an online savings account with a rate of 6.3 per cent AER.
According to the company, all customers who already have a Saga savings account will reap the benefits of a 0.1 per cent boost taking accounts up to the headline rate .
In addition to savings, Saga offers travel insurance, home insurance and car insurance and a number of financial services .
Saga boosts savings rates
Saga boosts savings rates
Wed, 03 Oct 2007
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