The litigation bond within an individual savings account, from Just Isa, aims to raise money for lawsuits against banks and professional advisers.

Rob Rutter, the founder of Just Isa, said: “The message we got early on was a desire for a three-year bond, so this is what we are doing with our big launch this week.”

The bonds of five and three years require a minimum investment of £2,000, with a target return of eight per cent per year. The Isa will be managed by Northern Provident Investments, which is authorised by the Financial Conduct Authority.

Mr Rutter added: “There is no such thing as a guaranteed return, but all the capital deployed in legal cases will be covered by ‘after the event’ insurance, so in the unlikely event that we lose a case all the money will be returned to the investors and the other side’s legal costs will be paid. I am 100 per cent confident that there is no way that our investors will not get their eight per cent.

“We have a few cases lined up already. We will specialise in cases against banks and professional advisers, such as lawyers and accountants. We want to right wrongs. I worked for 40 years in banking and finance and am appalled by what goes on. We have a few individual cases, but also a few cases that have implications for larger class actions.”