Alliance & Leicester International (ALIL) has launched a new fixed-rate savings bond.
The offshore savings company has introduced the limited edition savings bond to the market yesterday, offering a fixed savings interest rate of 4.7 per cent.
An investment of between £5,000 and £1 million is required to start the savings bond.
Savings bond holders will have the option to receive the interest from their investment on a monthly basis, or have it paid upon maturity of the savings bond and receive it on February 28th 2007.
The fixed-rate savings bond also allows customers to receive their interest in another account they may have with the savings provider, or by transfer into a building society account.
Simon Hull, managing director of ALIL, says the savings interest rate which is being offered on its latest fixed-rate savings bond is "highly competitive in the market".
He goes on to say that the fixed-rate term gives those saving money in the savings bond the option of returning to the market again for the best deal in a year's time.
ALIL is a subsidiary of Alliance & Leicester and has share capital and reserves to a value of over £100 million.
New savings bond announced
New savings bond announced
Fri, 03 Feb 2006
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