Alliance & Leicester launches Super Saver
www.moneynews.co.uk > Banking > Alliance & Leicester launches Super Saver
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Alliance & Leicester launches Super Saver
Mon 12th Jan 2009
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The new product consists of a savings account paying interest at a fixed rate of 5.5 per cent for 12 months, which can be opened on the condition that any deposits are matched by payments towards one of Alliance & Leicester's associated investment schemes.
If customers do not standby their obligations for the investment part of the product, which offers them a choice of schemes provided by Legal & General or Santander Asset Management, the rate of interest on their savings account will fall to 2.08 per cent.
Matt Hall, head of savings at Alliance & Leicester, said: "The new Super Saver balances the need for a safe haven for short term savings, whilst giving the opportunity to invest over the longer term for potentially higher returns than from a typical deposit account."
Recent research by Alliance & Leicester showed that many Brits are still choosing to save, despite the economic downturn.
Click here for more banking news
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Related News : Alliance & Leicester |
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