Alliance & Leicester Isa launched

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Alliance & Leicester Isa launched

Tue 13th Mar 2007

Alliance & Leicester has rolled out a new version of its Direct Isa Issue 3 account.

Available to both new and existing customers, the Alliance & Leicester Isa offers an interest rate of 5.40 per cent, including a 0.40 per cent bonus until April 30th 2008.

Requiring a minimum balance of £1, the package allows for existing Isa balances to be transferred, with deposits or withdrawals being able to be made using the telephone or the internet.

Ross Dalzell, marketing manager for savings at Alliance & Leicester, said: "Our Direct Isa has proved to be extremely popular, offering great rates and the convenience of 24-hour internet access.

"Tax-payers would need to find an account paying 6.75 per cent - even more for higher rate tax payers - to match the rate on Direct Isa Issue 3."

Alliance & Leicester's Isa follows the recent increase of the rate of the group's new premier Isa to 8.10 per cent, making it one of the most competitive products on the market.

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