Anglo Irish Bank has launched two products for those disappointed with their Telecom Eireann share allocation who now have extra funds they wish to invest.

The Euro Escalator Bond is a tracker bond, linked to the Euro Stoxx 50 Index, which includes some of the largest European companies.

This product offers a capital guarantee and Anglo says it features enhanced security through three-months averaging and a lock in of returns on an annual basis. Returns are based on the performance of the index. The minimum investment is £5,000 (€6,348). The bond runs for a set term of five years and two months and the offer is available until Wednesday, July 28th, or sooner depending on demand.

A range of deposit products is also available from Anglo including a five-year deposit account which requires a minimum investment of £2,000. It offers a gross return of 21.7 per cent with interest paid yearly. Investors needing access to their cash may take out up to 20 per cent of the capital without penalties.