A&L increases rate on Online Saver Issue 7

From today Alliance & Leicester has increased the rate on its Online Saver Issue 7 for new and existing customers.  The account will now pay a highly competitive 2.81 per cent gross/AER with a minimum opening balance of £1,000 and penalty free instant access available online. The account offers great value for savers looking for a competitive rate without restriction.

Reza Attar-Zadeh, Director of Savings and Investments, said: "Our research shows a worrying number of people aren't saving, with one in four confessing to have no savings at all to fall back on.  This insight into the nation's savings habits may be no surprise given the economic backdrop, but it remains a concern that so many people are still not saving anything at all.

"The fact is saving today could mean security for tomorrow and our new Online Saver rate is designed to help encourage customers to build a nest egg for their future.  This new highly competitive rate offers instant, penalty free access via the internet 365 days a year, so really couldn't be easier.”