Alliance & Leicester is extending the interest offer on a range of its accounts until 30 September 2008.

Alliance & Leicester is extending the 8.5 per cent AER credit interest offer on both its Premier Direct and Premier 50 current accounts until 30 September 2008.

It is also extending the ten per cent AER interest rate on its Premier 21 Current Account for 16 to 21 year olds.

Research from Alliance & Leicester Current Accounts reveals that almost 35 million Britons have made some form of financial cutback recently, and one third expect their disposable income to decrease over the coming six months.

For the majority (79 per cent) this is due to the rising cost of food, consumer goods, household bills and fuel prices.

Emma Walkley, current account manager at Alliance & Leicester, says, ‘While some providers have decided to cut the interest rate on their flagship current accounts, we are continuing to give unrivalled value by offering the best credit interest rate on the market.

‘By extending our market leading offer of 8.5 per cent interest on both Premier Direct and Premier 50, we are offering 85 times more interest than the meagre 0.1 per cent that many high street banks offer.’

Unfortunately, switching inertia still exists, with almost one in ten people admitting they have had the same current account for more than 20 years. Even more worrying is that over half of current account customers admit they have never switched current accounts.
 
Walkley says, ‘In the current economic climate, budgeting is at the forefront of people’s minds, with our research showing that three-quarters of the public have cut back on spending in recent weeks. Therefore, it is even more important for people to be choosing a current account that will make their money work harder, and give them something back.’

For more information, call 0845 300 2887 or visit  www.alliance-leicester.co.uk/currentaccounts