Alliance & Leicester account rate 'increased'

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Alliance & Leicester account rate 'increased'

Alliance & Leicester International Limited has announced it will be introducing a market-leading rate rise to its euro savings account.

Available with immediate effect, the Alliance & Leicester account is set at a rate of 3.61 per cent, an increase of 0.46 per cent.

The group's increase follows the European Central Bank's decision to increase the official euro rate earlier this month.

The Alliance & Leicester account also compares favourably to other deals on the market, including the Anglo Irish privilege access account, the Nationwide International Euro Savings account and a similar product from Abbey International.

Simon Hull, managing director of Alliance & Leicester International, said that the decision to increase the account's interest rate was "good news for both new and existing savers".

He added: "Unlike many other Euro savings accounts, Alliance & Leicester International offers one rate on all balances from €5,000 upwards and this is proving extremely popular with customers."

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