Interest rates rise on Alliance & Leicester Balance Builder account

www.moneynews.co.uk > Banking > Interest rates rise on Alliance & Leicester Balance Builder account

Interest rates rise on Alliance & Leicester Balance Builder account

Tue 3rd Oct 2006

Customers with an Alliance & Leicester Balance Builder account, which is aimed at larger charities and the public sector, are to benefit from higher interest rates.

Interest rates on the Alliance & Leicester Balance Builder account range from 4.05 per cent up to 4.75 per cent when the balance is over £1 million.

The account will pay interest monthly and no notice period is required for withdrawals. Perks like these, along with the new rates, should prove popular with customers.

The head of public sector at the Alliance & Leicester, Geoff Kontzle, stated: "The Balance Builder account has already proven to be very popular with charity organisations, housing associations and local authorities due to the convenience it offers and the fact that all normal transactions can be made free of charge."

Mr Kontzle added that he was "confident" demand would increase for the Alliance & Leicester Balance Builder account due to the revisions to the account.

The Alliance & Leicester Balance Builder account compares favourably with similar alternatives. HSBC's equivalent account, the Business Money Manager, offered a top rate of 2.33 per cent and Barclay's Business Premium account offered a top rate of 1.7 per cent.

Related News : Banking
	Young people 'should be taught to save'
	Families 'should plan for their children's future
	Switching bank accounts 'not as easy as banks portray'
	Brits facing finance difficulties 'should talk to their bank'
	Brits 'should utilise Isa allowances'
	Brits advised on investment options
	Children 'should be given bank accounts at 16'
	Falling inflation 'could help Brits save'
	Money worries 'are mounting for many'
	Contactless payment 'is secure and convenient'

Related News : Alliance & Leicester
	Santander savings accounts 'offering 6% interest'
	Santander's pre-tax profits 'have risen by 30%'
	New guaranteed investment products from Abbey and Alliance & Leicester
	Recession 'has not dampened the ambition of young adults'
	New Alliance & Leicester Business Bank current account launched
	Alliance & Leicester 12-month business bond unveiled
	Alliance & Leicester 'to rebrand as Santander' next year
	Alliance & Leicester: 9-month fixed-rate bond launched
	Alliance & Leicester savings account returns
	Santander banks launch new bonds