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Bank of Ireland Takes the Lead by Offering Investors a Natural Resources Savings Bond
28th March 2008
A new savings product that allows people in Northern Ireland to invest in a bond where interest is linked to natural resources such as gold and copper was launched today by Bank of Ireland.
A new savings product that allows people in Northern Ireland to invest in a bond where interest is linked to natural resources such as gold and copper was launched today by Bank of Ireland.
The first of its kind in Northern Ireland, the Natural Resources Bond offers investors the opportunity to benefit from the potential movement in the prices of gold, natural gas and copper over a period of five years and three months.
Customers are entitled to interest of 6.75% gross locked in for each year where the commodity prices in the September of that year are the same or higher than their levels at 30 June 2008.
Marcia Hughes, Product Manager for Savings and Investments at Bank of Ireland Northern Ireland, said:
“This is a first for a local bank and gives investors the chance to diversify into commodities rather than stocks and shares. As well as offering potential gains from rising prices of natural resources, customers’ deposits are secured and they will also get a minimum guaranteed interest return of 2.44% AER or 13.5% gross over the term.”
The minimum investment is £1,000 and the maximum is £500,000. The bond is available at any of Bank of Ireland’s 44 branches or by calling 0800 0850 444 for an application pack.
© Bank of Ireland 2008
