Money News
Alliance & Leicester is extending its Premier current account range with the launch of the Premier 21 Account. The offers a credit interest rate of 10.00% AER - this fixed until August 31st 2008 - on balances of up to £1,000. Balances over £1,000 will earn 0.10% gross. After August 31st 2008 the rate reverts to Bank of England Base Rate less 1%.
Premier 21 customers can also benefit from a range of added benefits including: a Linked Plus Saver account with 4.80% AER interest rate (3.84% net) - to encourage regular saving, Visa Debit card, overdraft facility (for those aged 18 years and over and guaranteed to be £250) and access to the account 24 hours a day via internet and telephone banking. A cheque book is available on request.
In addition, Premier 21 customers can benefit from a dedicated 'Recommend a Friend' scheme. Any existing Alliance & Leicester customer, who has a family member in this age group, can benefit from knowing their recommendation helps their family member get started with a £30 account opening cash incentive. Also, any Premier 21 Alliance & Leicester customers recommending Premier 21 to a friend, will earn themselves, and their friend, £15 each, per account.
Premier 21 account holders will be able to take advantage of an incentive which will credit £10 to the account of the first 20,000 customers who register their mobile phone for banking, and use it between now and June 30th 2007.
Initially launched in 2004 as the Young Worker Account for 16-24 year olds, A&L made the decision to re-vamp and re-launch the account as Premier 21, available exclusively for 16-21 year olds. At the age of 22 existing Premier 21 customers will be offered Premier Direct - A&L's current account paying credit interest rate of 6.5% AER, subject to terms and conditions.
30 April 2007 © Moneyextra.com
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