Anglo Irish Bank has launched a deposit bond for investors looking to invest for the medium to long term.
The Privilege Bond is a fixed rate deposit account available over 12, 18 or 24 months.
The bond offers 100% capital security, and incorporates two features; it allows access to 10% of the capital per annum without penalty, and interest can be paid either annually on the anniversary of the investment, or upon maturity.
Interest rates vary depending on the term of the investment. For the 12 months option, the interest rate is 3.9%; for 18 months it is 4%; and for the 24 months option, the interest rate is 4.1%. All interest is paid gross.
James Horrigan, manager, wealth management, at Anglo Irish Bank, said: "The Privilege Bond has been launched in response to customer demand and reflects Anglo Irish"s latest strategy of developing a complete range of longer-term deposit products.
"The Privilege Bond gives greater choice of investment options to our clients. Beforehand we only had traditional shorter-term investment products for our clients. With an environment of rising interest rates we wanted to give our clients a longer type investment opportunity with three options to choose from."
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