Alliance and Leicester 14% interest on savings

rheme

Just received the following e-mail from A & L, have to take out insurance to get it ... but in view of the programme Martin is doing later in the week then would be interested on what you all think.

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If you cannot see this email please click here[/FONT]

October 07 Dear

As an existing Alliance & Leicester customer you can take advantage of an offer exclusively designed for you.

Save and Protect is a unique package designed to give you peace of mind.

<LI style="COLOR: #f58426">Earn an excellent rate on your savings AND
• Help to protect you and your family in the future

With Save & Protect, when you take out protection provided by Legal & General we'll automatically offer you a savings account with our best interest rate - 14% gross p.a./AER. You can save any amount from £10 to £250 every month for a whole year, and be rewarded with a massive 14% gross p.a./AER.

Don't miss this chance to secure one of the very best rates available for your savings. But hurry, this offer ends 30 November 2007. To find out more, click on the link opposite or call us now, quoting reference: S&P14

Yours sincerely

Protection - Alliance & Leicester











Call: 0800 068 8612
Click alliance-leicester.co.uk
Visit: Your local branch

[FONT=Arial, Helvetica, sans-serif]Terms & Conditions

Save & Protect is only available to existing Alliance & Leicester customers who hold a Premier or Premier Direct Current Account when purchasing non-mortgage related Life Cover, Life and Critical Illness Cover, Critical Illness Cover, Family and Personal Income Plan or Whole of Life Protection Plan provided by
Legal & General Assurance Society Limited. Limited availability. Save & Protect Regular Saver account: One year term. 14.00% gross p.a. /AER fixed for 12 months. Minimum monthly payment £10, maximum monthly payment £250, fixed for a maximum of 12 months. All payments taken from linked Premier or Premier Direct Current Account. Interest is paid on maturity on the anniversary of the first payment due date. Only one Save & Protect Regular Saver account per customer is permitted. AER: Annual Equivalent Rate illustrates the interest rate if interest was paid and compounded each year. Gross: Interest rate before income tax deduction. If a customer invests the maximum of £250 per month, a total of £3,000 will be paid into their account during the 12 month term. At 14% interest, the customer would earn approximately £227 interest (gross). Legal & General protection policy: If the Legal & General protection policy is cancelled, the Save & Protect Regular Saver account will be closed.

This product cannot be bought in conjunction with any other offer. Protection products are subject to underwriting, terms and conditions and acceptance. Acceptance is not guaranteed. Once your protection product application is accepted you will receive an application pack with details on how to set up your Save & Protect Regular Saver account. If your protection product application is declined, or you decide not to proceed with it, you will not be entitled to the Save & Protect Regular Saver account.

Telephone calls are recorded for security, quality control and training purposes.

Alliance & Leicester plc. Registered office: Carlton Park, Narborough, Leicester LE19 0AL. Company No. 3263713. Registered in England. Alliance & Leicester plc is authorised and regulated by the Financial Services Authority. Our FSA register number is 189099. Life Cover, Life and Critical Illness Cover, Critical Illness Cover, Family and Personal Income Plan and Whole of Life Protection Plan are provided by
Legal & General Assurance Society Limited. Registered in England No 166055. Registered Office: One Coleman Street, London, EC2R 5AA.

This message was sent to you as an Alliance & Leicester customer. We only send marketing messages if you have not objected to receiving them at present. If you would prefer not to receive marketing based offers and information from us by email, please click here to unsubscribe. However, we will continue to inform you regarding important information about your account e.g. a rate change.

Please do not reply to this email. It has been sent from an email address that does not accept incoming emails. To contact us, please telephone Internet Banking on 0845 300 2562* or Textphone 08459 71 72 73 or visit our website alliance-leicester.co.uk.

As an additional security measure every customer email sent to you by Alliance & Leicester Group will be addressed to you personally. Please report to [EMAIL="suspiciousemails&#64;alliance-leicester.co.uk"]suspiciousemails@alliance-leicester.co.uk[/EMAIL][EMAIL="suspiciousemails&#64;alliance-leicester.co.uk"][/EMAIL] any email which appears to come from Alliance & Leicester but is NOT addressed to you personally.

We will never ask you to supply personal information such as passwords or other security information via email. If you are ever asked to supply this information in any email which appears to come from
Alliance & Leicester, please report this to [EMAIL="suspiciousemails&#64;alliance-leicester.co.uk"]suspiciousemails@alliance-leicester.co.uk[/EMAIL][EMAIL="suspiciousemails&#64;alliance-leicester.co.uk"][/EMAIL].

This email has been sent by Alliance & Leicester plc. Registered Office: Carlton Park, Narborough, Leicester LE19 0AL. Company No. 3263713. Registered in England. Alliance & Leicester plc is authorised and regulated by the Financial Services Authority. Our FSA register number is 189099. *Calls are charged at local rates from UK landlines although calls from mobile phones may be charged at different rates. Telephone calls are being recorded for security, quality control and training purposes

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oldfella

suggest you compare the total cost/benefit of the insurance + savings, with getting it elsewhere

masonic

Some discussion of costs/interest calculations can be found this thread.