FUND manager Rathbone has launched a new equity income fund, available at a 1.5 per cent discount until 31 July.
Three new fixed-rate bonds have bounded on to the market. Sainsbury's Bank has launched its latest one-year risk-free savings bond with a rate of 4.9 per cent gross. Investors can invest between 3,000 and 1 million, with interest being paid upon maturity on 15 May 2007. To open an account go to www.sainsburysbank.co.uk/frsa Meanwhile, Bradford & Bingley has introduced two fixed-rate e-Bonds: a two-year product fixed at 5.15 per cent gross or a three-year bond at 5.25 per cent. The minimum investment is 1,000 and the maximum is 2m. No further deposits are allowed after opening. Go to www.bradfordandbingley.co.uk and click on "savings and investments".
Tax benefits of HSBC life products
HSBC has brought out two new life products incorporating tax relief, following changes to pension rules on 6 April. The bank has introduce new pension term assurance products that give tax relief on life insurance premiums for new and existing customers. Its "life cover with tax relief" and "mortgage cover with tax relief" offer the same benefits as standard level and decreasing term assurance policies, but come with the added bonus of tax relief at source. Customers automatically receive a 22 per cent discount off premiums, while higher-rate tax-payers can claim additional tax relief via their annual tax return. For more information visit www.hsbc.co.uk or call 0800 299299.
Saga is offering new customers who sign up to its telephone service before the end of July up to six months' free calls. New customers to Saga's "hourtime" tariff will receive six months' free evening and weekend calls, those who sign up to its standard tariff will receive three months' free calls, while those on the "anytime" tariff will get one month's worth. To apply for Saga's telephone service, available to people aged 50 and over, call 0800 5593229 or visit saga.co.uk.