Alliance & Leicester ups interest rate on offshore base rate tracker
Thursday, 03 May 2007 16:29
Offshore savings bank Alliance & Leicester International has increased the interest rate on its Offshore Base Rate Tracker Issue 3 to 5.70% gross pa/AER.
The account guarantees it will pay at least 0.35% more than Bank of England base rate until January 31st 2008.
"Our Offshore Base Rate Tracker products continue to be exceptionally well received," said Simon Hull, managing director of Alliance & Leicester International.
"The rate offered on our latest Issue is highly competitive and will appeal to serious savers seeking certainty over their rate of interest, in the form of a link to base rate.
"The account allows one free withdrawal per quarter – so it’s ideal for those who are prepared to limit the access to their savings, for a market leading interest rate.
"But at the same time they have peace of mind that they are able to access their funds immediately should they need to, for example, in the event of an emergency. FX withdrawals are unlimited to facilitate movement of currency around the globe."
The Alliance & Leicester International Offshore Base Rate Tracker 3 offers:
A market leading interest rate of 5.70% gross pa/AER
Rate guaranteed to be at least 0.35% above Bank of England Base Rate until 31 January 2008 – after which time, the rate will revert to no more than 0.25% below Bank of England Base Rate
Minimum Sterling balance of £15,000, maximum of £1,000,000
One penalty free sterling withdrawal per quarter
Unlimited FX withdrawals
Interest paid gross annually
Quarterly statements