Alliance & Leicester International, the offshore savings arm of the bank, has increased the rate of interest on its Euro Savings account.
Taking place with immediate effect, the savings option will see an increase of 0.25 per cent, boosting the rate to 3.15 per cent, which the bank claims is market leading.
Alliance & Leicester International has made the decision following the European Central Bank's decision to increase the official euro rate.
This has ensured that the bank continues to offer the best rate available in the easy access euro offshore market, it claims.
Simon Hull, managing director, commented: "The increase to our Euro Savings account rate is good news for both new and existing savers.
"Alliance & Leicester International is committed to providing offshore savers with a choice of currency accounts paying very competitive interest rates."
He added that the bank is also offering one rate on all balances above €5,000 (£3,360) upwards, which is popular with customers.
Alliance & Leicester claims to handle retail deposit balances of £20.6 billion.
Alliance & Leicester boosts savings rates
Alliance & Leicester boosts savings rates
Thu, 26 Oct 2006
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