Santander member Alliance and Leicester has introduced an internet-based savings account to rival a similar announcement from Coventry Building Society .
Offering an interest rate of 3.15 per cent gross, the online savings package also comes with a sliding scale bonus - a £1 deposit will gain a further 2.65 per cent while putting the maximum £250,000 will yield 1.65 per cent more.
The bonus is also available until August 2010, allowing consumers to take advantage of short-term high interest rates with no fees for withdrawal of cash.
Andrew Hagger, PR and communications manager at Moneynet.co.uk, said of the savings offer: "This account will make a good addition to a savings portfolio as a home for that 'rainy day' money or emergency fund."
The account comes after the Coventry Building Society launch of its over-50s saving deal, offering 3.25 per cent gross, fixed for 12 months.
Online bank Egg recently launched two new savings options, both offering competitive levels of interest for customers to make the most of their money.
Alliance and Leicester get competitive over savings
Financial Services > Savings > Savings and Investments News
Alliance and Leicester get competitive over savings
Fri, 03 Jul 2009
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