Alliance & Leicester Int boost offshore portfolio

Category: Offshore savings
Date: 6/8/2009

Alliance & Leicester International Ltd has enhanced its range of offshore savings products with three new bonds.

Its 1 year fixed rate bond Issue 65 is a fixed term account maturing on 30.6.10 which pays 3.00% (2.96% monthly) on maturity on a minimum investment of £10K.

The 2 year step-up bond Issue 2 is also a fixed term product, maturing on 30.6.11. It guarantees a rate rise each year, paying 3.50% yearly (3.45% monthly) on a minimum investment of £10K until 30.6.10, and 4.00% (3.93%) thereafter until maturity.

The new 1 year tracker bond Issue 1 is a fixed term variable rate account maturing on 30.6.10. It pays: 3.00% yearly (2.96% monthly) on a minimum investment of £10K; 3.25% (3.20%) on £50K; and 3.50% (3.45%) on £100K. The rate paid is guaranteed 3.00% above the base rate at £100K, 2.75% above at £50K and 2.50% above at £10K.

No early access or further additions are permitted on any of the above products.

The 2 year step up bond pays the same rate as its predecessor and remains at the top of a limited market of two, while at 1.30% below the market leader, the 1 year fixed rate bond sits just inside the top quartile in its field.

The 1 year tracker product is equal to the market leader at its highest tier of £100K and enters at third place in its field.

The products have been awarded four out of five Moneyfacts stars.