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Sep 6, 2006
Alliance &
Leicester has announced the reorganization of its Premier current accounts,
citing changes in the current account market and evolving customer
requirements.
According to the bank, new customers to its self-service current account,
Premier Direct, who want a no nonsense, high rate account will receive a credit
interest rate of 6.1% AER. In addition, Premier Direct continues to offer what
A&L claims as the UK’s
lowest overdraft rate of 5.9% (for both authorized and unauthorized borrowing)
with a 0% overdraft for the first 12 months.
A&L’s Premier current account will continue to offer a rate of 1.50% AER
plus a range of value added benefits, including wider options to service the
account, free European annual travel insurance and a 0% overdraft for the first
12 months (7.9% thereafter). In addition, customers who switch to Premier will
qualify for a Premier Regular Saver account, which offers a 12.0% AER.
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