Guaranteed Equity Savings Account
With all long term savings accounts it is advisable to consider how much your fund will grow in comparison to inflation. How much will it be worth?
These accounts are only available for long term investments of 3-5 years. The sum is invested in the stock market, but for the whole term the sum invested remains 100% guaranteed. Unfortunately it is not possible to make additional contributions to this scheme and any interest which is gained is subject to tax.
Some Guaranteed Equity Accounts have hefty penalties which are payable if you do decide to withdraw your funds mid term, so make sure that this account is right for you and your circumstances before you commit.
Guaranteed Equity Accounts are available through large banks and building societies. These establishments will have Financial Advisers who will be able to provide information and guidance as to whether this is a suitable account type for you as well as offering any alternative recommendations if required.
Download the Saving Accounts PDF Guide here - see our other free PDF guides here
Guide Contents
Why Save?
Tips to help you start saving
The different types of savings accounts
Instant Access
E-Saver
Regular Savings Account
Notice Accounts
Affinity Savings Accounts
Ethical Savings Accounts and Charity Savings Accounts
Cash ISA's
National Savings & Investments
Children's Savings Accounts
Term or Bond Savings Accounts
Guaranteed Equity Savings Account
Frequently Asked Questions
Further help with Savings Accounts
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