Tracker bonds are all the rage this week as Bank of Ireland announced details of its "Combination Equity Bond Series 3". The bond is a capital secured investment product consisting of a tracker bond with an option of investing up to 50 per cent in a premium one-year deposit.

The Combination Equity Bond offers a combination of a 5.75 year tracker bond, with a return based on the performance of a selection of stock market indices, and a one-year fixed deposit rate paying 5.5 per cent gross.