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Alliance & Leicester tempts with web based winner

Alliance & Leicester tempts with web based winner

Category: Savings

Updated: 11/06/2009
First Published: 08/06/2009

This article was correct at the time of publication. It is now over 6 months old so the content may be out of date.

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.

Disclaimer: Information is correct as of the date of publication (shown at the top of this article). Any products featured may be withdrawn by their provider or changed at any time.