Alliance & Leicester increases rate on Premier ISA

From Wednesday 7 March, Alliance & Leicester’s Premier ISA account will pay a market leading 8.10% pa gross/AER. The ISA is available to customers opening an Alliance & Leicester Premier current account and will be available for a limited period only.

Customers who have already switched to the Premier current account and taken out the linked Premier ISA at 7%, will also benefit from the new and improved rate of 8.10%.

Ross Dalzell, Manager for Savings at Alliance & Leicester said: “Alliance & Leicester is offering the UK’s best ever ISA rate and our current accounts are recognised as being amongst the best on the market – so this latest offer makes it even more appealing.”

The Premier ISA offer is designed to incentivise the many people who don’t take advantage of their annual ISA allowance and will provide an unrivalled interest rate for tax efficient savings. A cash ISA offers customers a simple and straightforward way to save, along with instant access to their funds and no risk to capital, unlike a stocks and shares ISA or other stockmarket investment.

Dalzell continues: “This offer is particularly appealing to those people who haven’t already used their ISA allowance for this current tax year – if they take advantage of the offer before 5 April 2007, they will benefit from this great rate for both the 2006/07 and 2007/08 tax years.”

The new Premier ISA offers:

A market leading interest rate of 8.10% gross/AER, guaranteed to be at least 1.00% above the base rate until 30 April 2008.
Minimum investment £1, maximum investment £3,000 in any tax year (dependant on ISA regulations).
ISA funds from current and previous tax years cannot be transferred in.
Funds accessible via Internet and Telephone Banking through the nominated Premier current account – no charges or penalty for withdrawals.
Minimum age 21 years.
Interest paid annually on 1 January.