Too good to be true

With their capital guarantees, savings products from some high-street retailers may at first appear attractive but their small print reveals a different story

I don't know why it is that after so many years of such appalling treatment, so many people still trust high-street retailers of financial services. What made me ponder anew the masochistic tendencies of British savers was the appearance of a leaflet in Tesco stores promoting its Tesco FTSE 100 Tracker Bond. Like many similar products, the Tesco FTSE 100 Tracker offers the security blanket of a capital guarantee. Hold the bond to its maturity after six years and you are guaranteed to get your money back. Wow. Don't ask what you get if you cash in early. Put it this way: you might need ...