ALIL launches new eSAVER offshore flexible income account

Following the success of its internet savings account - eSaver Offshore Issue 1 - Alliance & Leicester International Limited (ALIL), the Isle of Man based offshore savings bank, has launched a new ‘eSaver Offshore Flexible Income' account.

The new eSaver Offshore Flexible Income Account offers a competitive rate of 6.35% AER, with the option of either monthly or quarterly interest payment, and it allows customers to apply for and manage their savings online, with no need to print and post an application form. The account offers easy access to savings - customers can withdraw up to £5,000 a month without notice, for unforeseen expenses. It even provides customers with the unique feature of being able to change online, whether they receive interest on a monthly or quarterly basis.

Simon Hull, Managing Director of Alliance & Leicester International commented: "The launch of our ‘eSaver Offshore' account last year simplified the offshore savings experience for expats, enabling customers to apply for, and access their savings account any time, anywhere. Following this success we've gone that extra step and launched a great new product that provides offshore customers with even more flexibility.

"Our new eSaver Offshore Flexible Income account has been designed specifically for expat savers who require a regular income from their savings, providing them with the ease of an online account, strong rates and the opportunity to make a penalty-free withdrawal of £5,000 every month."

Research conducted by ALIL has found that 6 in 10 (59%) ALIL customers opted for an eSaver account because of its online application process while over half (51%) chose ALIL due to its secure online banking facilities. ALIL's unique MBOS (MyBankOffshore internet banking) has also proved popular, with 83% of customers using the system regularly and 90% saying they find the online banking process easy to use.

Simon Hull continues: "As with all ALIL products, innovation, access and strong rates are key, which is why we're constantly striving to ensure our customers get the products they really want."

The eSaver Offshore Flexible Income Account offers:

A highly competitive interest rate of 6.35% gross AER on balances of £25,000 or more (6.17% gross monthly, 6.20% gross quarterly)
Interest earned daily and paid either monthly or quarterly - interest payment preference can be changed online once annually for free
Minimum opening balance of £25,000 of new to ALIL funds
Maximum of £1,000,000
One immediate withdrawal without penalty of £5,000 per calendar month, and access to further funds with 60 days' notice
Apply online - ALIL still offers the only offshore savings accounts that can be opened without printing and signing a paper form
Account managed solely online using ALIL's secure MyBankOffshore internet banking platform


ALIL's eSaver Offshore products provide customers with the ability to access and manage their account anytime, anywhere in the world via ALIL's online banking system.

For more information on the eSaver Offshore Flexible Income Account, or any other Alliance & Leicester International account, visit alil.co.im