Standard Bank Offshore has launched a capital guaranteed product linked to the price of gold, offeri...
Standard Bank Offshore has launched a capital guaranteed product linked to the price of gold, offering up to 10% return with only a 12-month lock-in period for investors.
The Gold Linked Deposit Account is a fixed term deposit offering a 100% capital guarantee and a minimum return of 2%.
Investors can earn a 10% return if the price of gold reaches or exceed $400 per ounce on the London 3pm time fixing of the World Bullion Market on any business day during the period of the deposit. Interest will be paid gross when the product matures.
Minimum investment is £10,000. The offer will be on a first come first served basis and the account will close early if fully subscribed.
Any money deposited with the bank prior to the start date will earn interest at 1% per annum below the bank's Sterling Base Rate.
Lindsay Bateman, senior manager, group marketing at Standard Bank Offshore, said: 'Although I think equity markets will recover from current volatility, in the short term, many conservative or less experienced investors are looking to diversify their portfolios.
'Investing in gold, the ultimate safe haven, is a good way to do this. There are many technical reasons for predicting that the gold price will continue to rise.'
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