Cheshire Building Society has launched a new Guaranteed Capital Plus Account (GCPA) offering investors the potential for growth up to a maximum of 60 per cent over five years, depending on the performance of the FTSE 100 Index.

The GCPA gives investors the reassurance that their capital is 100 per cent secure, and they are guaranteed minimum growth in their savings of 21.5 per cent gross at maturity, if held for the full five-year term, regardless of what happens to the FTSE 100 Index.

Frank Harrington, head of partnerships at Cheshire Building Society, says, ‘The Guaranteed Capital Plus Account gives savers the best of both worlds in an uncertain market. It offers the potential to benefit from stock market growth with a guaranteed minimum return of 21.5 per cent gross, provided the plan is held for the full five-year term. It is ideal for cautious investors who value that reassurance.

‘It should also be particularly attractive to savers who have existing ISA balances that they know they won’t need access to in the medium term. These can simply be transferred to Guaranteed Capital Plus, which would retain their tax-free status and provide the potential for a better return than they may be currently getting.’

The account is available for a limited period until 28 August 2008, or earlier if fully subscribed, for new Cash ISA subscriptions for the 2008/09 tax year and direct deposits outside an ISA and 14 August 2008 for ISA transfers from other organisations.

The minimum investment is £3,600 with a maximum investment of £3,600 for 2008/09 Cash ISAs, full value for ISA transfers and £45,000 for direct deposits outside an ISA.

For more information call 0845 055 5995 or visit www.thecheshire.co.uk