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Alliance & Leicester
Our Online Bank Buys *
| Rate (AER) | Minimum Balance | ||
|---|---|---|---|
| A & L | 8.50% | £1 |  |
| Lloyds TSB | 4.00% | £1 | |
| A & L | 1.50% | £1 | |
| Barclays | 0.10% | £1 | |
| Citibank | 0.10% | £1 | |
| * Based on £500 Credit and is a limited guide to the market | |||
Alliance & Leicester is a strong contender in the current account market. It offers extremely competitive current accounts, paying hefty interest rates and with additional benefits.
Is your current account the best one for you? 'Cheque out' the competition with Moneyextra's comparison services to find out.
Its internet-based Premier Direct Current Account is particularly attractive. It pays high interest on balances of up to £2,500; higher than most savings accounts and significantly higher than the interest offered on credit balances on the majority of current accounts offered by the 'big four' banks.
It is available to those aged 21 and over, who pay a minimum of £500 into their account each month. In addition, there is an interest-free overdraft facility available for the first year.
The Alliance & Leicester Premier Current Account pays a lower interest rate on credit balances but comes with free European annual travel insurance. Those opening this account must also agree to pay in £500 a month. It also offers an interest-free overdraft for one year.
For younger customers in the 16-21 age bracket, there is a Premier 21 Current Account. This offers high interest on balances up to £1,000, as long as £250 is paid into the account each month. An interest-free overdraft is also available on the account, although there is a monthly fee for using it.
All Alliance & Leicester current accounts come with a linked PlusSaver savings account.
For those wishing to move to an Alliance & Leicester current account, it offers a Premier Switching Service to make the process as smooth and pain-free as possible. The process takes around three to six weeks on average.
Is your current account the best one for you? 'Cheque out' the competition with Moneyextra's comparison services to find out.
Last updated February 2008
Nothing in this article constitutes investment advice or a recommendation by Moneyextra to invest in any product, or employ any service, mentioned or advertised.