Alliance & Leicester one year fixed rate bond launched

The offshore savings branch of Alliance & Leicester has launched a limited edition one year fixed rate bond with an interest rate of 4.4 per cent.

New and existing customers can invest in the bond, with a minimum deposit of £5,000 and a maximum of £1 million.

Simon Hull, managing director of ALIL, said: “The 1 Year Fixed Rate Bond gives savers the security of a fixed and highly competitive rate but with the option of assessing the market again for the best deal in 12 months’ time. “

The Alliance & Leicester one year fixed rate bond, which matures on September 30th 2006, allows customers to receive interest either on maturity of the bond or on a monthly basis into a bank or building society account.

For those customers wishing to invest the bond, it can be done online by downloading an application form. Further to this, customers can access all account details via the ALIL website.