New savings account good for investors

Wednesday, October 26, 2005

Alliance and Leicester has announced a new savings account, which pays ten per cent to those who invest in it.

The Premier Regular Saver, available from October 31st until November 30th, is for new customers opening an Alliance and Leicester Premier or Premier Direct current account.

"For the next month, we will be offering all new Premier customers the chance to earn a very attractive 10 per cent interest on their savings, with the new linked Premier Regular Saver," said Simon Ripton, current accounts manager at Alliance and Leicester.

"This will be a great way for people to kick-start a savings habit and at the end of the 12 month period, have saved up a nice little nest egg."

Customers can invest fixed amounts of between £10 and £250 a month, and at the end of the 12 month period, all the money in the Premier Regular Saver will be paid into the customer's Premier or Premier Direct account.

Abbey complimented Alliance and Leicester on the move: "At Abbey, we are pleased to see other current and savings account providers, such as Alliance and Leicester, follow our lead by offering people great rates on both accounts," said head of banking, Reza Attar-Zadeh.

Abbey was also quick to point out that their six per cent interest offer is available to existing customers, not just new ones.