Alliance & Leicester - 10% students? 30 April 2007 at 2:47PM in Savings & investments 3 replies 743 views

JimV

Hi
I'm sure I read in the paper that Alliance & Leicester have a savings account for students, 16-21, with an interest rate of 10%

But I can't find anything on the net?

Anyone know any more on this?

Cheers

Kazza242

JimV wrote: »

Hi
I'm sure I read in the paper that Alliance & Leicester have a savings account for students, 16-21, with an interest rate of 10%

But I can't find anything on the net?

Anyone know any more on this?

Cheers

The account is called Premier 21. It pays 16-21 year-olds 10% interest on the money in the account until July 2008 and then the rate falls to 4.75%. According to a couple of articles I've read, the account only offers 10% on the first £1,000 in the account.

The account comes with an overdraft with no interest charged, but Premier 21 account holders will have to pay £3 per month for having the overdraft, £25 for setting it up and £3 per day if the overdraft is exceeded.

Check out the following articles for more details every investor, A&L press release (PDF) and easier.com article.

**For new A&L customers over 21, it looks like the 12% regular savings account will be on offer again, according to the article (please the link above).**

Kazza242

Two new articles which have just been uploaded:

uSwitch.com: Alliance & Leicester’s current account for 16-21 year olds.

moneysupermarket.com: Alliance & Leicester's Premier 21 Account.

JimV

Thanks, appreciated

:beer: