Financial Services Industry
Industry: Email Alert RSS FeedOne door shuts at A&L as one opens.(Alliance & Leicester PLC launches direct Isa and other online saver products)(Brief Article)
Financial Adviser, June, 2005
ALLIANCE & Leicester will launch a new direct Isa and other online saver products in July this year.
As a result, the existing Direct Isa and Online Saver products offered by the bank have been closed to new customers.
The current Direct Isa will keep its interest rate of 5.4 per cent for existing customers, and Alliance & Leicester is guaranteeing that this rate will continue to be at least 0.65 of a percentage point above the Bank of England base rate until at least 31 December 2005.
Existing customers can continue to fund their Direct Isa account up to the relevant limit.
Online Saver customers presently receive an interest rate of 5.35 per cent -- reduced to 5 per cent. Alliance & Leicester is guaranteeing that this rate will...
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