West Bromwich Building Society is to launch a new savings account this weekend. On top of a full guaranteed return of invested capital, the FTSE Booster Guaranteed Capital Account promises to offer great returns for investors . The savings account offers returns of 150 per cent of any growth in the FTSE 100 index, subject to averaging, over the investment term which runs from September 13th 2005 to the same date in 2011.

The savings rate during this time is set at 4.75 per cent, and will be added to the savings bond at the start of the investment term.

With the growing popularity of these type of guaranteed products we have for some time now been keen to test the consumers market place nationally, commented Andy Heseltine, product manager at the West Brom. We believe this is exactly the type of product with excellent features and benefit to do just that, he said. The minimum investment in the savings account is £3,000, and no additional deposits or withdrawals could be made.

This direct investment opportunity is also available as a mini cash ISA option. This really is a great delivery which will bowl over investors and show how serious the West Brom is on offering savers a really great deal, Mr Heseltine said.