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Abbey has launched the latest in its range of guaranteed investment products linked to the FTSE 100.

The Guaranteed Growth Plan is available in two versions.

Its three and a half year plan offers the higher of either a guaranteed minimum return of 7 per cent over the term, or 50 per cent of the FTSE 100, capped at 35 per cent. Its five and a half year plan offers the higher of either a guaranteed minimum return of 21 per cent over that term, or 50 per cent participation in the FTSE 100 Index, capped at 55 per cent.

The Plan is available until 2 December and minimum investment is £1500.

It can be used as the investment element of Abbey's Super range of products, which includes the Super Isa, paying 7.75 per cent annual equivalent rate variable and the Super Fixed Rate Reward Saver, paying 8.1 per cent annual equivalent rate.

Reza Attar-Zadeh, head of savings and investments for Abbey, said: "Abbey's Guaranteed Growth Plan gives investors exposure to equity markets without putting their capital at risk. It also ensures them a guaranteed minimum return, regardless of stock market performance. We believe that this remains an attractive option for those with a cautious attitude to risk in the current environment."