Offshore savers should be interested to learn that Alliance & Leicester International has announced it will increase interest rates on its offshore savings accounts.
The company's new eSaver Offshore Issue 1 Account now has a rate of 6.40 per cent, which is a market leading figure, the company claims.
Managing director of Alliance & Leicester International Simon Hull explained that the new rate increases were aimed at covering the needs of the bank's customers.
"Whether you are looking for an instant access, base rate tracker, notice or online account, Alliance & Leicester International continues to dominate the best buy tables and the increases we have made reflect our determination to remain the most consistently competitive offshore savings provider," he commented.
Interest rate changes to the accounts have become effective since July 12th and 19th, although interest is only paid on the International Deferred Interest Account when the account is closed.
The Post Office warned savers not to be complacent after the Bank of England announced the base rate will remain frozen at 5.75 per cent, as the organisation expects rates to rise later on in the year.
Savings account changes by Alliance & Leicester
Savings account changes by Alliance & Leicester
Mon, 06 Aug 2007
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