Alliance & Leicester, part of Santander, has today updated their Online Saver account now paying an interest rate of 2.75% gross/AER.
You can open the new Online Saver account with just £1 and there’s penalty free access online.
The market leading interest rate is available to new and existing customers.
The overall rate is 2.75% gross/AER but there is a tiered bonus depending on the balance on the account.
For example with a balance of £1, the rate is 2.75% which comprises an underlying rate of 0.5%, plus a bonus of 2.25%.
This variable rate account is available with the bonus for at least 12 months.
Director of Savings and Investments at Alliance & Leicester, Reza Attar-Zedah, commented ‘We are committed to offering competitively priced products and believe this new Online Saver will prover extremely popular for any customers looking for a great rate with penalty free access to their money.’
You can save up to £2,000,000 in this Online Saver account. Pay money into the account whenever you want and access the money within 24 hours when you transfer to your Alliance & Leicester current account or up to 4 working days for transfers to a current account with another provider.