ALIL launches limited offer ‘bonus’ for tax deferral savers
Alliance & Leicester International Limited (ALIL), the Isle of Man based offshore savings bank, is offering consumers the chance to boost their savings and benefit from Tax deferral with a new bonus promotion on its International Deferred Interest Account (IDIA).The promotion, which is payable on new IDIA accounts opened with funds of £100,000 or more, pays a bonus of 0.35% over the standard rate of 5.95% (variable) until 30June 2008.
TheInternational Deferred Interest Account (IDIA) offers:
A highly competitive interest rate of 5.95% gross pa/AER (variable) on balances of £100,000 or more, already 0.70% above the Bank of England Base Rate
An additional bonus of 0.35% on balances of £100,000 or more guaranteed until 30 June 2008 and payable to customers opening a new IDIA account with funds not already deposited with ALIL
Minimum Sterling balance of £10,000, maximum of £1,000,000
Access to funds with 180 days’ notice in the first three years with instant access after this period
Ability to access and manage account anytime, anywhere in the world via ALIL’s online banking system
Interest payable on closure of the account (not annually or monthly) allowing customers to plan their tax liability.
ALIL is the first ever offshore bank to launch an International Deferred Interest Account (IDIA), and the offering has been developed with high net worth savers in mind and is ideal for those who wish to deposit large amounts and manage their tax liability at the same time, enabling customers to control the timing of their tax receipt. The new limited offer ‘bonus’ is designed to encourage international savers to think about their approach to tax planning given the approaching tax year end.
And it’s not just new ALIL customers who will benefit from the bonus. Existing IDIA customers who top up their balance to £100,000 or more with new money during the promotion period can earn 6.30% on their total balance.
Simon Hull, Managing Director of Alliance & Leicester International commented: “Ensuring you make the most of your savings is key to managing your financial future. Our International Deferred Interest Account enables customers to make the most of their savings and is ideal for both UK and
non-UK Domiciled residents who want to take advantage of tax planning opportunities and defer their tax payments to a later date. However, putting money aside, be it for retirement purposes or simply for a rainy day, is always a challenge – especially with the rising cost of living. That’s why we wanted to reward those customers who are able to save with our special bonus promotion which they can take advantage of until the end of June.”
Research conducted by ALIL has found that competitive rates (64%), straightforward transfers and deposits (72%) and online capability (70%) also influence the choice in provider.
Simon Hull continues: “As with all ALIL products, great rates are a fundamental feature and that’s why, even when the bonus period ends, we are able to continue offering our customers a highly competitive rate. The account allows free withdrawals on 180 days’ notice – so it’s ideal for those who are prepared to limit the access to their savings and are able to plan withdrawals in advance for a highly competitive interest rate. At the same time they are able to manage their tax liability and have control over the timing of receipt of their tax within a secure online environment, anywhere in the world.”
For more information on the International Deferred Interest Account (IDIA) and bonus offer, or any other Alliance & Leicester International account, visit alil.co.im.