12 June 2006
Alliance & Leicester (A&L) has been handed two awards for credit and debit interest on its current accounts.
Its online banking account, called Premier Direct, has a credit interest rate of 5% AER on the first £2,500 until June 30th 2007 and also features the lowest overdraft rate in the UK of 5.9%.
Customers of that account and also the company's Premier account also receive a 12-month interest-fee overdraft.
Both accounts have a minimum funding requirement of £500 per month.
Helen Palmer, current account manager at Alliance & Leicester, said: "We are delighted to receive these two awards – it's great to be recognised for both our credit and debit interest.
"Our credit interest rate of 5% AER on our Premier Direct current account is backed by the UK's lowest debit interest rate of 5.9% – which has proved to be a real winning combination."
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