Alliance & Leicester fixed rate bond on market

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Alliance & Leicester fixed rate bond on market

A new Alliance & Leicester fixed rate bond has been launched by the bank's offshore savings division.

Gross annual interest on the bond stands at 4.8 per cent, while fixed monthly interest is at a gross of 4.65 per cent.

Alliance & Leicester International, the offshore savings bank, says that customers can deposit between £5,000 and £500,000 into the bond.

Simon Hull, managing director, said: "Our competitive range of short term bonds continues to be exceptionally well received by both new and existing customers, so we decided to start the new year with the launch of issue 21."

He added that the rate on the new Alliance & Leicester fixed rate bond is the "most competitive in the market", while the yearly term gives savers the option of accessing the market again for the best deal next year.

Alliance & Leicester International is based on the Isle of Man and is one of the largest offshore deposit takers.

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