A&L’s Premier 50 Current Account celebrates first birthday

A year on from its launch, Alliance & Leicester's Premier 50 Current Account for the over 50s still offers a market-leading credit interest rate, currently 8.50% AER, despite the Bank of England Base Rate being cut by 1.25%, from 5.75% to 4.50% during this time.

The Premier 50 Current Account is designed to recognise the specific financial needs of those aged 50 and over and offers benefits that these customers will find valuable and beneficial. In addition to a market-leading rate, Premier 50 Current Account customers receive a package of benefits including annual worldwide travel insurance up to age 79, exclusive health benefits and identity protection cover, all for just £10 a month. The account helps those who have worked hard for their money over the years to make the most of it, and provides peace of mind on the important issues such as health and security.

While the over 50s recognise the importance of getting good value for money, switching inertia is still providing big banks with easy pickings. Research from Alliance & Leicester Current Accounts found that nearly half (47%) of the over 50s would like to switch provider for a better credit interest rate, but only one in 14 (7%) has actually changed their current account in a bid to improve the state of their finances.

Emma Walkley, Premier 50 Current Account Manager at Alliance & Leicester said: "We wanted to ensure the benefits of our Premier 50 Current Account would actually be useful for our over 50s customers, and provide them with important peace of mind."

Emma Walkley continued: "The popularity of the account over the past year has shown us that customers are attracted by the account's lifestyle benefits, not to mention its high credit interest rate. We are the only current account provider to tailor a current account exclusively to the over 50s and therefore the only provider able to meet their specific needs."

The Premier 50 Current Account offers the following for just £10 a month:

Credit interest rate of 8.50% fixed for 1 year on balances up to £2,500
Annual worldwide travel insurance up to age 79
Exclusive health benefits also available up to age 79; including access to up to two private out-patient consultations and up to £750 towards out-patient diagnostic testing per year as well as access to a 24/7 Health at Hand helpline,
Premier 50 Identity Protection and Alert
Assistance with lost cards with Premier 50 Card Assist
0% overdraft for life
Joint account holders enjoy the same benefits per person for the same £10 per month.

To find out more information about Alliance & Leicester award winning Premier range of current accounts and the latest offers available, visit alliance-leicester.co.uk/currentaccounts