Special offer 10% interest accounts

jamesfinch

Hi guys,
I remember a while back reading about some 10% interest account A&L were doing, what is the deal with these huge interest rates. I'm assuming they're regular savers only, but are there any still around?
Thanks

Robert_Sterling

Type Alliance And Leicester into Google for full details.

Kazza242

Yes, they are regular savings accounts. You earn high rates on your money for the time it is in the account. Regular savers that allow deposits up to £250 per month are good for building up a lump sum and to transfer into a cash ISA.

A&L are now offering 12% (fixed for 12 months) on their Premier regular saver, but you'll have to be quick, as the offer ends 7th February 2007. This account is only available to new Premier Current account customers who open the regular saver at the same time as the current account.

You must fund the A&L current account with £500 each month, £250 of which can go into the regular saver and the other £250 can be transferred back out again once the funds have cleared.

Barclays are currently offering 12.5% (fixed for 12 months on up to £250pm) on their regular saver (until 28th February '07). To qualify you must pay in a salary of at least £1,000 per month into a Barclays current account. The offer is not open to existing Barclays (10%) regular saver customers.

Lloyds TSB offer a monthly saver that pays 8% (up to £250pm), but this one runs for two years. It allows an initial £500 lump sum deposit, which makes it possible to build up your monthly saver balance to £1,000 quickly.

If you don't have an existing LTSB current account, then you must open one to qualify for the monthly saver. You do not need to fund the current account, just open it with £1. The offer ends 5th March. This is one of my favourite accounts.

There are also other regular savers that do not require you to open a current account - that allow up to £250pm to be deposited unless otherwise stated, like:

- Halifax, Abbey and Chorley (Rovers RS) all paying 7%.
- Ipswich BS (Target Saver 7.25%)
- Yorkshire BS (6.75% rate could be increased to 7% from Feb 1st £500pm). This account continues until your balance reaches £20K.
- Principality BS (6.50% £500pm),
- Scarborough BS and Bath BS both paying (6.25%). Both accounts continue until your balance reaches £15K.