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Alliance & Leicester ISA 10% AER
alchemistkevin
Posts: 173 Forumite
I just received an email from Alliance & Leicester today about their 10% AER ISA, seems too good to be true, anyone got any details?
Must be a catch somewhere...
Must be a catch somewhere...
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Comments
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You need to open their Premier Current Account and pay in a minimum of £500 into it each month to be eligible for the Premier ISA. However this account is one of Martin's best-buys so look over the Best Current Account article in case this would work out better for you.
If transferring a previous year's ISA into this account, at least 50% of it must go to a Stocks and Shares ISA - full details here.
I'll move this over to the ISA's board
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Thanks, do I also have to keep this account active for the duration of the ISA?0
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What about if you already have an ISA with them and a premier account - will that now be 10%?
Save me from spending...
Sealed Pot Challenge 2008 - £1004:T 2009 - £1139 2010 - £1260 :j 2011 - £1557 2012 - £740 :beer: No 195 Target £1k0 -
I can't believe this hasn't attracted any more interest. Surely people must be interested in a 10% AER ISA, I mean who pays you 10% interest - tax free!0
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Little_Chicken wrote: »What about if you already have an ISA with them and a premier account - will that now be 10%?
If you have a Premier account with them already, you have to open "an eligible investment product with £5,000 or more via one of our Financial Advisors"
If you have a Premier Account, and will have used up your ISA allowance for 2008/2009, best thing to do is swap to Premier Direct, and put in £2500. This will earn 8.5% AER (taxable).0 -
alchemistkevin wrote: »I can't believe this hasn't attracted any more interest. Surely people must be interested in a 10% AER ISA, I mean who pays you 10% interest - tax free!
That's because you haven't read the T&Cs in full. Look at some of the earlier threads on it .... there are strings to this, which most people do not wish to be tied up in.If you want to test the depth of the water .........don't use both feet !0 -
That's because you haven't read the T&Cs in full. Look at some of the earlier threads on it .... there are strings to this, which most people do not wish to be tied up in.
Thanks Mike, I tried searching in the morning and again in the afternoon and evening to see if other threads about this existed but couldn't find any.
Would you be kind enough to post some links please... Thanks.0 -
It is not a bad offer for new customers especially as there is 25 quid refer a friend (ask me if you need this) or 50 quid from quidco. If you haven't already used this years allowance you can put in 3k this year and 3.6 next giving a profit of 250 quid over what you might make in normal 6% isa. The rules on 'additional eligible investments' probably mean it is not appropriate for transfers in or existing customers.I think....0
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It's 10% variable. Whats the rate guarantee?0
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alchemistkevin wrote: »Thanks Mike, I tried searching in the morning and again in the afternoon and evening to see if other threads about this existed but couldn't find any.
Would you be kind enough to post some links please... Thanks.
If you go to the ISA threads and put 'Alliance' into the 'Search this forum' .. it will pull up some.
The biggest ISA thread is this one. Look at post #1 .. towards the bottom is the A&L offering at 10% (under 'ISAs which accept transfers in ... but with conditions attached')
http://forums.moneysavingexpert.com/showthread.html?t=401374
..... note the comment on the bottom line. You'll find some other comments throughout the thread - but it's a long one :
Alliance & Leicester Premier ISA (issue 2) - 10.00% :starmod: NEW :starmod:
Rate guarantee? No. Minimum deposit: £1. Operated via: Internet and Telephone.
Notes: Transfers in are accepted after 06/04/2008 and 50% must go in to a stocks & shares ISA via an Alliance & Leicester Branch.
Important: Available to existing current account customers who must hold a Premier Current A/c and invest at least £5K in an investment product in branch at the same time.
*Looks like another ISA to avoid.*If you want to test the depth of the water .........don't use both feet !0
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