Alliance & Leicester International one-year fixed-rate bond introduced

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Alliance & Leicester International one-year fixed-rate bond introduced

The new Alliance & Leicester International Limited (ALIL) one-year fixed-rate bond has been launched for a limited time only at a "highly competitive" rate.

Speaking of the product's launch, Simon Hull, managing director of Alliance & Leicester International, said that the bond - with a six per cent gross per annum/AER rate - could be applied for online, thus "speeding up the application process".

Available with a minimum deposit of £5,000, the Alliance & Leicester International one-year fixed-rate bond is the 32nd issue of the product and a maximum sum of £1,000,000 can be deposited into it.

Mr Hull stated: "Our range of fixed-rate bonds continue to be exceptionally well received. The rate offered on our latest fixed-rate bond is highly competitive in the market and the term gives savers the option of accessing the market again for the best deal in 12 months' time."

The bond will reach maturity on February 29th next year and the customer has the choice of whether to receive interest on either a monthly basis or on when the product reaches maturity.

In addition, the interest accrued on the Alliance & Leicester International one-year fixed-rate bond can be transferred to another ALIL account or alternatively, into any building society or bank in the UK, Channel Islands or the Isle of Man.

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