Alliance & Leicester launches Online Saver 5 paying 3.15%

Alliance & Leicester launches Online Saver Issue 5 paying a market leading 3.15 per cent gross AER. With a minimum balance of just £1 and penalty free access available online, this account is ideal for savers looking for a great rate without any restrictions.

This highly attractive account includes a tiered bonus starting from 2.65 per cent on £1 up to 1.65 per cent depending on your balance but all customers will benefit from an overall rate of 3.15 per cent variable gross/AER .

The new rate is not only market leading but also offers the peace of mind that saving with one of the world's biggest banks, Santander, brings.

Reza Attar-Zadeh, Director of Savings and Investments, said: "This is a fantastic rate for an easy access account and with access via the internet 365 days a year it really couldn't be easier. We are committed to offering competitively priced products and believe this new Online Saver will prove extremely popular for any customers looking for a great rate with penalty free access to their money.

Reza Attar-Zadeh continues: "This increased rate complements our existing range of great savings products including our Fixed Rate Bonds paying up to 4.15 per cent"

Customers can apply online at alliance-leicester.co.uk from Friday 3rd July.