Alliance & Leicester ISA 10% AER

CannyJock

Bumping this for a sanity check.

I've been asked to recommend an account for a 16 year old - came across the Premier 21 with A&L which comes with the A&L Premier ISA.

Can't see any catches for new customers on this ISA, 10% from the current account and 10% on the ISA.

Would I be right in saying there aren't any catches for new customers?

EDIT: Bah humbug, just spotted one of the catches - from 1st June 2009 onwards interest drops from 10% to their Direct ISA rate of 6.25%

tobed

CannyJock wrote: »

Bumping this for a sanity check.
EDIT: Bah humbug, just spotted one of the catches - from 1st June onwards interest drops from 10% to their Direct ISA rate of 6.25%

However, this is after 1 June 2009. So you could keep it for a year and then transfer to another ISA, couldn't you?

CannyJock

tobed wrote: »

However, this is after 1 June 2009. So you could keep it for a year and then transfer to another ISA, couldn't you?

Yup, isn't for me though I've already maxed out my Icesave ISA - have been asked to recommend for a relative who's only 16.

[Deleted User]

I think this offer is fantastic. I have just opened up the account online. I haven't opened an ISA for this year yet, so it looks like I can get two annual allowances in for the next 15 months at 10% tax free. Hard to beat that!! So long as they get the account active in time for this year's allowance of course...