The 8.5 percent interest rate offer on the Alliance and Leicester Premier 50 and Premier Direct current accounts is being extended for a further 3 months such has been its popularity.
The high interest rate is guaranteed for the first year of having the account, which also provides a 0 percent overdraft option, again for twelve months. An Alliance and Leicester spokesperson suggested that people could earn a significant amount of extra interest by swapping to these current accounts as well as saving on overdraft charges.
As a nation we tend to stick with the same accounts, with 80 percent of current account holders having been with the same one for five years or more so perhaps this Alliance and Leicester offer can change that, for the benefit of the customer.
The Alliance and Leicester Premier 21 account turned one year old today and to mark the occasion a ten percent interest rate offer has been reintroduced for new customers.
The ten percent offer on the Alliance and Leicester current account will be valid for the first GBP1,000 deposited and kept in the account for 12 months. After the first year the rate will revert to a base rate tracker.
The current account is available to customers aged between 16 and 21, with an interest free overdraft facility available to those over 18. An Alliance and Leicester spokesman believes that by concentrating their efforts on smaller markets such as this they can deliver a product better suited to their needs.
Northern Rock has revealed plans to shed around 1,300 jobs as it reorganises operations and looks to the future.
This figure is lower than originally expected, which is good news for some members of staff who wish to stay. Northern Rock are anticipating around 500 people taking voluntary redundancy, leaving just 800 to be selected by management. The original estimate was for around 2,000 job losses, but discussions with staff representatives and management has lowered that number.
After being nationalised earlier this year Northern Rock has a duty to pay back the money loaned to it and in order to do this it has had to revise the way it operates. Cutting costs but remaining active in the key markets is how this will be achieved, hence the job losses now being applied.
