Alliance & Leicester Offering Ten Per Cent Interest On Regular Savings Accounts

 new Alliance & Leicester regular savings account paying 10 per cent per annum gross/AER has been launched.

The deal is for customers opening either an Alliance & Leicester Premier or Premier Direct current account between now and November 30 this year.

The move follows recent similar offers by the company to attract new trade including new Premier customers receiving a £150 holiday voucher.

The Alliance & Leicester claims this latest offer will provide an unrivalled interest rate on a regular savings account.

Alliance & Leicester Current Accounts Manager Simon Ripton says the new Premier Regular Saver product is designed to encourage people to save a fixed amount each month for a year and also offers a special incentive to save.

Mr Ripton said: “For the next month we will be offering all new Premier customers the chance to earn a very attractive ten per cent interest on their savings with the new linked Premier Regular Saver.

“This will be a great way for people to kick-start a savings habit and at the end of the twelve month period they will have saved up a nice little nest egg – there has never been a better time to switch.”

The new Premier Regular Saver offer involves:

  • Interest rate of 10 per cent gross AER.

  • Fixed monthly payments of between £10 and £250.

  • At the end of the 12-month period, the balance, including interest will be paid into the customer’s Premier or Premier Direct current account.

  • To be eligible for the Premier Regular Saver account, customers need to open a new Premier or Premier Direct current account and request the Premier Regular Saver at the time the account is opened.

  • Customers need to decide on a fixed amount of between £10 and £250 at the outset to be paid into the Premier Regular Saver each month and transfer it from their linked Premier or Premier Direct account.

  • The payment amount cannot be altered during the 12-month term.

  • To continue to qualify for the 10% rate, withdrawals cannot be made.

  • Interest will be calculated up to and paid on the first anniversary of the first credit being due into the account.

    Contact Alliance & Leicester for full details.

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