Bradford & Bingley Guaranteed Combi Bond launched

The Bradford & Bingley Guaranteed Combi Bond has been launched for customers looking to combine a competitive interest rate with the growth potential available in the stock market.

Customers' money will be split evenly between a deposit-based savings account which pays seven per cent gross per annum, while the other half will be invested in a bond.

This five year Guaranteed Equity Bond will pay 110 per cent of the growth of the FTSE 100, or a full return on the capital should the FTSE fall.

Steve Potter, head of savings, said that savers simply "could not lose" with the Bradford & Bingley Guaranteed Combi Bond.

There are no charges or management fees for customers, and the minimum investment for the bond is £1,000.