Alliance & Leicester's Online Saver Issue 5 is Best Instant Access Account for Savers Under 50

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Paying 3.15% AER on balances from £1, the Online Saver Issue 5 from Alliance & Leicester gives you access to your money whenever you need it.

This article was published some time ago. Please check the current product details as they may have changed.

What's the deal?

Alliance & Leicester's Online Saver Issue 5 pays 3.15% AER and includes a variable introductory bonus paid until 2nd August, 2010.

The actual rate incorporated in the introductory bonus is dependent on how much money you have saved in the account. However, regardless of your balance you will still receive the 3.15% AER rate overall.

The bonus rates paid are as follows:

£1 = 2.65% bonus

£25,000 = 2.40% bonus

£50,000 = 2.15% bonus

£250,000 = 1.65% bonus

After 2nd August, 2010 the rate will revert from 3.15% AER to the account's standard variable rate.

The Online Saver Issue 5 account can be managed online, accepts balances from £1 to £2million and places no restrictions or penalties on withdrawals whatsoever.

What makes it great?

The 3.15% AER paid on the Alliance & Leicester Online Saver Issue 5 account is the best instant access rate available for savers under the age of 50. What's more, the bonus available with this account gives you added reassurance that you'll be getting a reasonable return on your money until August 2010.

Conditions

While the introductory bonus paid on this account is definitely worth taking advantage of, the standard rate of interest applied after this expires isn't anything to write home about. As such, it's a good idea to review the account's suitability after 2nd August, 2010 to ensure that your money is getting the best return possible on an ongoing basis.

Additionally, it's worth bearing in mind that the account can only be managed online. While this isn't going to be an issue for the majority, if you prefer to have branch access to your money it's something to consider.

We have done our very best to make sure that the information included in this Deal is accurate. However, sometimes offers can be withdrawn or changed at the last minute so please do check that you're able to redeem this Deal before parting with any money, or going out of your way to take advantage of the offer.

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Discuss 'Alliance & Leicester's Online Saver Issue 5 is Best Instant Access Account for Savers Under 50'

I opened an Online Saver Issue 5 Account Aug.2009 depositing ?10000. This year I received ?35 interest. Please clear up this for me.

by JeanMair, 2 years ago

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