Abbey launches 4th GGP investment plan

Tue, 13 Jun 2006

Abbey has launched a fourth issue of its guaranteed growth plan (GGP).

The plan is an investment which the company states guarantees the stake returned to the investor , plus a minimum return.

A five-an-a-half year period is classifies as the full term of the investment and Abbey states that a minimum return of 19 per cent is guaranteed at the end of this time, although further growth is possible after the period.

The minimum investment in the scheme is £1,500, while the upper limit is £7,000.

Pak Chan, head of investments marketing at Abbey, said, "It is understandable that people are sometimes put off investing in the stock market by the fear of losing their hard-earned savings .

"The Abbey guaranteed growth plan aims to take away this fear by guaranteeing to protect people’s initial investment and also give them a guaranteed minimum return if held to maturity."

Potential investors looking for a shorter-term deal may not find this appropriate, but may be interested in a two-year or one-year investment bond .

Leeds Building Society recently launched a two-year escalator bond with a guaranteed 5.5 per cent in the second year.

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