Confused by A&L accounts

skint_yorkie

I see Martin recommends A&Ls Premier direct account with 6.10% AER, but looking at A&Ls site I see they have a premier account with 12.00% AER . How come this isn't the best deal? what am I missing ?

Creditcardkid

I think the Premier accout comes with a regular saver which earns 12% (12 month maximum £250PCM) rather than the current account earning 12%. The current account earns 6% on balances between £1 - £2500.

Hope that helps,

Steve :money:

MSE_Martin

The 12% account is a different type of account. It is for savings and putting money aside each month. The 6.1% account is a current account - in other words a day to day bank account.

If you're looking for a current account thats the right one - if you're looking to save cash, read my 'where to start with savings article' in the savings section.

Martin