INTEREST BOOST FOR UK SAVERS
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| Article date: 03/10/2005 : 14:59:08 |
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Good news for savers as financial providers decide to up the interest paid on positive accounts.
Both Alliance & Leicester and Abbey are ignoring the Bank of England base rate reduction and increasing the interest level for their customers.
People paying £1,000 or more into their Abbey bank account will now receive six per cent interest. Alliance & Leicester will pay five per cent to those paying in £500 or more.
Reza Attar-Zadeh, head of banking marketing at Abbey said: "We know people want a good rate of interest and we’d urge anyone, particularly those with a low-paying current account with the big four, to switch to Abbey. Our current account is fee-free and pays the highest rate of interest in the market.
"We’ve also gone a step further by offering new and existing Abbey current account customers a Fixed Rate Monthly Saver account paying a great interest rate of six per cent."
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