UK-based Yorkshire Building Society has teamed up with Credit Suisse to offer a new range of “no risk” guaranteed growth and income accounts.
The society said that these accounts will allow savers to benefit from potential stock market based returns with the comfort of a 100% capital guarantee.
Yorkshire Building Society noted that it has had a relationship with Credit Suisse since 2005 offering a number of guaranteed investment accounts (GIAs).
The new range of accounts include: GIA — Tracked Growth, GIA — Fixed Growth and GIA — Annual Income, with a guaranteed minimum return of 7% gross, 12% gross and 1% gross pa/AER, respectively.
The minimum investment required for all the three accounts is GBP3,600, while the maximum is GBP45,000 for GIA – Tracked Growth and GIA – Fixed Growth and GBP1m for GIA – Annual Income.
Gary Fowler, head of insurance and sales operations at Yorkshire Building Society, said: With savings rates being at an all time low it’s important that people get the maximum return on their investment while protecting their capital. Previous offerings have proved incredibly popular as many customers see that the stock market is currently low so feel there may be more potential for growth.
