Alliance & Leicester launches 3.15% savings account

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A new postal account for savings customers has been launched by Leeds Building Society in a bid to provide a good rate as well as flexibility.
Loughborough BS launches new savings account paying 4.00%

The Loughborough Building Society has launched a new monthly savers account that pays a 4.00% AER/Gross variable rate with a savings limit of £2,400 PA or £200 a month.

Friday, 03 July 2009 12:00

Alliance & Leicester has launched an online savings account paying 3.15 per cent and providing instant access to cash.

The Online Saver 5, which is available to customers depositing a minimum balance of £1, is paying the rate until August 2010 as part of a bonus deal.

Customers will receive tiered underlying rates which start at 0.50 per cent for people with the smallest balances and go up to 1.50 per cent for savers with more money in their account.

Then savers are paid varying bonuses which mean that everyone will receive a rate of 3.15 per cent.

However this also means, after August 2010, rates revert to the basic rates.

Reza Attar-Zadeh, director of savings and investments for Alliance & Leicester, said: "This is a fantastic rate for an easy access account and with access via the internet 365 days a year it really couldn't be easier."