Alliance & Leicester has unveiled a new no notice internet operated account which supersedes the Online Saver Issue 4.
The product pays a preferential rate of 2.50% on a minimum investment of £1. This rate is paid until 2.8.10 when it reverts to a variable system.
Thereafter, the rate is as follows: £1 – 0.50%; £25K – 1.00%; £250K – 1.50%.
The original rate is undoubtedly good news for investors and is the top internet operated no notice account and just 0.26% below the overall no notice market leader.
While the large reduction is something to be aware of, those who are happy to move funds around regularly will still recognise the account's appeal.
This new product has been awarded four out of five Moneyfacts stars.
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