Money News

Last chance to earn 6% on your savings

Switching to Alliance & Leicester could net you 6% interest on your savings and bank account. But hurry, the offer ends this Sunday…

Alliance & Leicester (www.alliance-leicester.co.uk) is offering people the chance to earn 6% interest on their current account and 6% interest on a linked regular savings account.

The rates are fixed for one year and keeping the maximum amount of cash in these accounts could provide a return of £247.50 over one year.

However, those who want to take advantage of this deal need to act fast – it is only available until Saturday 5 September in branch and by phone, and Sunday 6 September online.

Gillian Almond, head of current accounts at Alliance & Leicester, said: “It’s ironic that whilst many people are understandably watching the pennies at the moment, millions of Brits have not updated their bank account in the last decade.”

The Premium Regular Saver is available to people who switch to its Premier Direct or Premier 50 current account using the Alliance & Leicester account transfer service.

Terms to note:

• To benefit from 6% interest on your savings - You must pay between £10 and £250 into your Premium Regular Saver each month for 12 months. This must be done by standing order from your linked current account and the amount must be the same each month. No withdrawals can be made within the year.
• To benefit from 6% on your current account balance – If you get the Premier Direct account you must pay in £500 each month. If you get the Premier 50 account you must pay the £10 monthly fee, which also entitles you to annual worldwide travel insurance and other benefits. Both current accounts come with a 0% overdraft for 12 months.

More information on the Alliance and Leicester deal

Abbey, which is also part of Santander, is offering a similar deal which also ends this weekend.