Alliance & Leicester launches new fixed rate savings bonds

Alliance & Leicester Savings has launched two new Fixed Rate Bonds with competitive interest rates - a Fixed Rate Bond maturing 1 June 2009, and a 3 Year Fixed Rate Bond with interest rates of 4.05% and 3.75% fixed AER respectively.

These new Fixed Rate Bonds are available from all Alliance & Leicester branches, for sums of between £1,000 and £2,000,000. The offer will be available whilst funds last, with the bonds maturing on 1 June 2009 and 1 February 2012.

Martin Leake, Savings Manager at Alliance & Leicester commented: "With the recent dramatic cut in the Bank of England Base Rate, and speculation that further cuts may be in the pipeline, these Bonds provide certainty of return for savers. This is a limited opportunity to invest anything from £1,000 to £2,000,000, and getting a guaranteed return which is above the current bank base rate, without the risk of being exposed to stock market volatility."

The features of these accounts include:

An interest rate fixed over the term of the Bond
Interest payable annually or monthly
Minimum balance £1,000
Maximum of £2,000,000
Available to both new and existing customers, however transfers or cheques from other Alliance & Leicester Savings accounts are not being accepted, unless from a maturing Alliance & Leicester Bond.
Available from Alliance & Leicester branches

For more information, visit alliance-leicester.co.uk