Norwich plans protected, fixed monthly income Isa

Norwich Union is looking to launch a protected Isa product later this year, offering fixed monthly i...

Norwich Union is looking to launch a protected Isa product later this year, offering fixed monthly income and a level of capital protection. Although specifications for the Isa are not yet finalised, it will offer in the region of 6.25% gross income per annum paid monthly, with a roll-up option of 35% at the end of the five-year term. As for capital security, 100% of the original investment will be returned at maturity unless the FTSE 100 has fallen below 60% of its starting level at some point during the term and is below the starting point after the five-year duration. In this cas...