Alliance & Leicester increases rate on Euro Savings account

Alliance & Leicester International Limited (ALIL), the offshore savings bank, has increased the interest rate paid on its Euro Savings account with immediate effect.

New customers and customers holding an easy access Euro Savings account will see the rate rise to a market leading 3.61%, an increase of 0.46%.

ALIL’s increase in its Euro Savings account rate follows the decision made earlier this month by the European Central Bank, to increase the official Euro rate. In line with this move, ALIL has taken this step to ensure it continues to provide the most competitive rate in the market for instant access Euro offshore deposits, with unlimited withdrawals and FX’s.

Simon Hull, Managing Director of Alliance & Leicester International Limited, commented: “The increase to our Euro Savings Account rate is good news for both new and existing savers. Alliance & Leicester International is committed to providing offshore savers with a choice of currency accounts paying very competitive interest rates. Unlike many other Euro savings accounts, Alliance & Leicester International Limited offers one rate on all balances from €5,000 upwards and this is proving extremely popular with customers.”