Alliance & Leicester: 9% savings account
Friday, 23 May 2008 08:43
Alliance & Leicester has launched a one-year fixed rate savings account, offering nine per cent gross pa/AER.
The deal is available to customers choosing to invest in the Balanced Savings & Investment Plan from Legal & General.
Matt Hall, head of savings and investments at Alliance & Leicester said: "This plan balances the need for a safe haven for short term savings, whilst providing the opportunity to invest over the longer term for potentially higher returns than from a typical savings account.
"The Balanced Savings & Investment Plan suits those who are looking to make their money work harder, but still like the security of keeping some of their funds in cash."
The minimum deposit on the fixed savings account is £1,000 and withdrawal restrictions apply.
On the Legal & General Portfolio bond, the minimum investment is £5,000 and it is recommended to be invested for at least five years - any earlier withdrawals will result in a surrender charge.
It provides access to a number of funds, but returns and capital are not guaranteed.