The new growth and income account is a fixed six-year term deposit account that has two distinct features, offering a fixed annual income and growth potential with a link to the FTSE 100 Index at the end of the period. As it is a deposit-based account, it has a money back guarantee that promises to pay back the original money invested if it is held for the full six years.
Rachel Curtis, senior manager for investments at Alliance & Leicester, said: Given the recent stock market volatility we have seen, this product is ideal for customers who are keen to invest, but want to know their money is safe. The six-year growth & income account offers customers the chance to take the first step from saving into investments and dip their toes in the stock market, without risking their capital.
