Alliance And Leicester Increases Euro Interest Rate

by Carla Johnson, Investors Offshore, London

20 March 2007

Alliance & Leicester International Limited, 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."

The bank also recently launched a new, limited edition sterling 1 Year Fixed Rate Bond (Issue 32) with a highly competitive fixed interest rate of 6.00% gross pa/AER.

Customers can deposit between GBP5,000 and GBP1,000,000 into the Bond, which will mature on 29 February 2008. As with all previous issues, savers can choose to have their interest paid on the maturity of the Bond or on a monthly basis. Interest can be paid either by transfer into another ALIL account, or by transfer to a bank or building society account in the Isle of Man, United Kingdom or the Channel Islands.

Simon Hull commented: "Our range of fixed rate bonds continue to be exceptionally well received. The rate offered on our latest fixed rate bond is highly competitive in the market and the term gives savers the option of accessing the market again for the best deal in 12 months' time. Our website www.alil.co.im allows customers to access all account details and to download an application form, speeding up the application process."

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