Alliance & Leicester International Limited (ALIL) has launched a new savings account that it claims is a leader in the savings market.
The 120-day notice savings account, named Offshore 120 Plus, offers an interest rate of 4.95 per cent annual equivalent rate.
The savings interest rate is guaranteed to remain at least 0.45 per cent above the Bank of England's base rate until September 1st 2006.
Interest is paid on a yearly basis on March 31st.
Savings account holders need to have a balance of between £10,000 and £1 million in the account.
Penalty-free withdrawals are allowed if 120 days' notice is given. A charge equivalent to 120 days' interest on the withdrawn amount will be levied if less notice is given.
"We make every effort to ensure that the needs of our growing customer base are met by regularly assessing our product portfolio and talking to our customers," comments Simon Hull, ALIL's managing director.
He says the launch of the Offshore 120 Plus savings account enhances the savings provider's current range of savings accounts while also satisfying customers' needs by offering returns that are "consistently high".
Mr Hull says the enhanced ALIL website will offer savings account holders access to application forms and savings account details.
Those wishing to start saving money in the Offshore 120 Plus savings account could apply for the savings account via the post, telephone or by faxing the forms.
Savings account a market leader, says ALIL
Savings account a market leader, says ALIL
Thu, 16 Mar 2006
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