Alliance and Leicester Launches One Year Fixed Rate Bond for Their Premier Range of Current Accounts
Released on: October 24, 2008, 11:22 pm
Press Release Author: Alliance and Leicester
Industry: Management
Press Release Summary: Alliance & Leicester has today launched a new fixed rate bond paying 6.50% gross on lump sum investments between GBP1,000 and GBP10,000, which replaces the Premier Regular Saver.
Press Release Body: October 2008 - 6.50% gross/pa AER on Premier Fixed Rate Bond*
-Available in branches to new and existing customers of the Premier range of current accounts.
Alliance & Leicester has today launched a new fixed rate bond paying 6.50% gross on lump sum investments between GBP1,000 and GBP10,000, which replaces the Premier Regular Saver.
The bond is available to all existing customers of the Premier current account range, and all new customers who switch to one of the Premier range of current accounts in branch using the Premier Switching Service.
Andy Muddimer, Current Accounts Manager at Alliance & Leicester said: "With the current uncertainty surrounding the economic climate highlighting the importance of saving, it is now a good time to assess all your banking needs to make sure you are getting a good deal.
"Customers switching to an Alliance & Leicester Premier Account will not only benefit from this competitive savings rate but also the many other advantages of the Premier range, such as free annual multi-trip European travel insurance on the original Premier account, market leading interest rates through Premier Direct and Premier 21, or the important added value elements of Premier 50 - all in all, a great package.
The 'Premier Switching Service' is designed for customers switching to one of Alliance & Leicester's Premier range of accounts - it takes the hassle out of transferring existing direct debits and standing orders from a customer's previous bank."
Details of the Premier current accounts included in this offer:
Premier Direct
1) Credit interest rate of 8.5% AER (fixed for one year after the account is opened) on balances up to GBP2,500. The interest rate thereafter is Bank of England Base Rate minus 1% - currently 4% AER. 2) Fee-free overdraft for the first 12 months, with 0% overdraft for life** 3) Linked PlusSaver account***
Premier
1) Free annual multi-trip European travel insurance available up to age 65 2) Credit interest rate of 1.00% AER on balances up to GBP2,500 3) Linked PlusSaver savings account**** 4) Branch, telephone and online access
Premier 21
1) Offers a best-buy credit interest rate paying 10% AER (fixed for one year from account opening) on balances up to GBP1,000. The interest rate thereafter is Bank of England Base Rate minus 1% - currently 4% AER. 2) Visa debit card making it easy to shop online and on the high street 3) Linked PlusSaver account*** 4) Available to those aged between 16-21
Premier 50
1) Credit rate interest rate of 8.50% AER (fixed for one year from account opening) on balances up to GBP2,500. The interest rate thereafter is Bank of England Base Rate minus 1% - currently 4% AER. 2) Annual worldwide travel insurance up to the age of 79 3) Health benefits, including access to up to two private out-patient consultations and up to GBP750 towards out-patient diagnostic testing per person per year, available up to age 79 4) Identity Protection cover and Card Assist 5) Available exclusively to those aged 50 or over all for just GBP10 per month
Accounts in the Premier range come with a free authorised overdraft for the first 12 months (for those over 18), and an opportunity to share GBP50 by recommending another Premier current account to a friend.
For further details on switching to a Premier Account, or for details on Alliance & Leicester's full range of current accounts and the latest offers, visit www.alliance-leicester.co.uk/current-accounts.
- ENDS -
Notes to Editor:
*Terms & conditions apply. Rate fixed until 30/11/09. Available for existing customers of Alliance & Leicester's Premier range of current accounts. New Premier account applicants must switch all direct debits/standing orders to a Premier current account using our Premier Switching Service within 11 weeks from account opening. Only one Bond per Premier current account in single or joint names and only one Bond per person can be held. Must be funded with money from a non Alliance & Leicester account.
**Customers will benefit from a free overdraft for the first year the account is opened. Thereafter customers who use their authorised overdraft with pay a simple 'Overdraft Usage' fee of 50 pence a day, capped at a maximum of GBP5 per month.
***For accounts opened from 29th September the linked PlusSaver account is currently paying 5.25% AER (including a 0.75% bonus on the first GBP50,000 until 7 December 2009)
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