Alliance & Leicester launches top US Dollar savings account

Alliance & Leicester International Limited (ALIL), the offshore savings bank of Alliance & Leicester, has launched a new tier with a higher interest rate on its US Dollar savings account.

The new rates will see customers with over $100,000 in their accounts receiving 3.2 per cent on the full balance, with those who have between $50,000 and $99,999 receiving 2.9 per cent.

Simon Hull, Managing Director of Alliance & Leicester International Limited, said: "Alliance & Leicester International is committed to providing offshore savers with the most consistently competitive rates in the market and our fourth US Dollar savings rate increase this year demonstrates this."

He added that many customers are still looking for US Dollar accounts as people frequently spend more time working, travelling and moving abroad.

Alliance & Leicester will hope that the fourth rise in rates this year will continue to attract expatriates to save with them.