Alliance & Leicester launches new range of fixed rate bonds

Alliance & Leicester has launched a new range of very competitive Fixed Rate Bonds. The new bonds are available from the bank's branches from today, Wednesday 16 April and details are as follows:

6 Month Fixed Rate Bond, paying 6.83% AER (6.72% gross)
1 Year Fixed Rate Bond, paying an interest rate of 6.50% pa gross/AER
2 Year Fixed Rate Bond, paying an interest rate of 6.30% pa gross/AER
3 Year Fixed Rate Bond, paying an interest rate of 6.05% pa gross/AER

These new Fixed Rate Bonds are available from all Alliance & Leicester branches, for sums of between £1,000 and £1,000,000. These offers will only be available whilst funds last. The 6 Month Fixed Rate Bond will mature on 1 November 2008, and the others will mature on 1 May 2009, 2010 and 2011 respectively.

Martin Leake, Savings Manager at Alliance & Leicester commented: "Fixed rate bonds provide security of capital and a guaranteed return, so you know exactly what you're getting for your hard earned savings. Our latest bond offers are a strictly limited opportunity to invest anything from £1,000 to £1,000,000, at some of the best rates of return on the market."

Other features of these bonds include:

Interest payable monthly, or on maturity
Minimum balance £1,000 (£2,500 for monthly interest)
Maximum of £1,000,000
Available to both new and existing customers, however the Bond will not be accepting transfers or cheques from other Alliance & Leicester accounts.

These Fixed Rate Bonds are only available from Alliance & Leicester branches. To find your nearest Alliance & Leicester branch log on to our website at alliance-leicester.co.uk.