‘Premier 21’ scoops prestigious Financial Innovation Awards

Alliance & Leicester is celebrating winning two prestigious Financial Innovation Awards in recognition of its bespoke Premier 21 current account, launched earlier this year. Alliance & Leicester beat off competition from over 500 finalists including HSBC and Lloyds TSB to claim the title of ‘Most Promising New Product’ and the coveted ‘Award for Overall Excellence’, which recognises the overall winner of the awards.

The Premier 21 current account, which was launched in April this year, is designed for 16-21 year olds who are in employment and offers them an unbeatable credit interest rate of 10.00% AER, alongside other benefits including a linked Plus Saver account with 6.00% AER and a Visa Debit card.

By signing up for a Premier 21 Current Account 16-21 year-olds who are just starting out in their working life are being given access to hints and tips for breaking into their chosen industry by celebrity mentors who have already made the grade in their field. The Premier 21 mentor scheme provides information through podcasts, web chats and all 10 celebrity mentors are giving a personal face-to-face mentoring day to explain the best route to a successful career.

Alliance & Leicester is one of the few banks to design and tailor current accounts for specific groups, having this year added both Premier 21 and the recently launched Premier 50 - aimed exclusively at those aged 50 plus - to its existing Premier range. These extensions to the Premier range re-affirm the bank’s challenge to the Big Four and provide yet another example of Alliance & Leicester’s commitment to being the UK’s best current account provider.

Commenting on Premier 21’s award wins, Andy Bayes, Head of Current Accounts at Alliance & Leicester said: “We are extremely pleased to see that Premier 21 has received industry recognition with these two coveted awards. The mentor scheme we introduced is providing youngsters with a unique insight into working life by some of the most successful people in their respective industry.

“Over the last year we have worked hard to develop our product range, and to confirm our commitment to delivering outstanding value and table-topping current accounts for banking customers of all ages.

“Going forward into 2008, we look forward to developing our offers and encouraging even more people to take out one of our market-leading accounts.”

Alliance & Leicester’s Premier current account range has been developed to offer the best-of-breed for all banking customers and now includes four current accounts:

Premier

Benefits driven with branch and online access
Free European travel insurance
Linked Premier Regular Saver account, which offers 12% gross AER for one year
1.50% AER on balances up to £2,500

Premier Direct

Offers customers a rate-driven account, accessible online only
6.5% AER credit (fixed until 31.01.09) on balances up to £2,500

Premier 21

Available to those aged between 16-21 who are in employment
Offers a best–buy credit interest rate paying 10% AER (fixed until 31.01.09) on all balances of up to £1,000 fixed for at least one year from account opening.
Visa debit card making it easy to shop online and on the high street

Premier 50

Available to those aged 50 plus for a monthly fee of £10
Credit rate interest rate of 7.00% AER (fixed until 31.01.09) for one year after the account opening on balances up to £2,500.
Annual worldwide travel insurance up to the age of 79
Health benefits, which include access to up to two private out-patient consultations and up to £750 towards out-patient diagnostic testing per
Access to a 24/7 Health at Hand helpline.

Accounts in the Premier range come with a free authorised overdraft for the first 12 months (for those over 18).

To find out more information about Alliance & Leicester award winning Premier current account range visit alliance-leicester.co.uk/currentaccounts.