Money News

Alliance & Leicester current account offers choice of rewards

Wednesday, 6 May 2009

Writes Hazel Cottrell
hazel.cottrell@consumerchoices.co.uk

Open a Premier current account with Alliance & Leicester today and choose between a table-topping rate of 7% on your linked savings or £100 cash.

Alliance & Leicester (www.alliance-leicester.co.uk) is offering two attractive deals to those who open its Premier current account. New customers now have the choice of £100 cashback or the chance to open a Premier regular saver account, which pays 7% interest.

The Premier regular saver account allows you to make fixed payments of between £10 and £250 a month and pays 7% interest for 12 months.

If you want to open the Premier regular saver, you MUST apply for the Premier current account in branch or by phone.

If alternatively, you would prefer the £100 cashback, you MUST apply for the Premier current account online.

To open the Premier current account you must be over 21 and able to pay in at least £500 a month. Whichever reward option you choose, you can get a 0% arranged overdraft for 12 months and free annual European travel insurance.

Gillian Almond, current accounts manager at Alliance & Leicester, said that the savings offer is “time-limited” and encouraged people to make the most of it now.

Chris Eagle, commercial manager at CreditChoices.co.uk, believes both choices offer great benefits, but reminds potential customers to do the sums when deciding between them.

He said: “The maximum you can earn in interest with the Premier regular saver is £113.75, and that’s if you make the maximum deposit of £250 each month (£3,000 over the year).

“If you think your monthly deposits would be much below this level, you are likely to be better off taking the £100 cashback deal and stashing your savings in the next best available account.”

Apply for the Premier current account online >>>

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