28 October 2008
The Premier 50 Current Account from Alliance & Leicester still offers "market-leading" credit interest rates one year after its launch, the bank has claimed. A rate of 8.5% AER is currently offered, despite moves by the Bank of England that have brought the base rate from 5.75% to 4.5% over the last 12 months. The account - which is designed to meet the needs of banking customers over the age of 50 and is available for £10 a month - also offers a range of additional benefits. These include worldwide annual travel insurance, identity protection cover and health benefits such as private out-patient consultations. Emma Walkley, Premier 50 Current Account Manager at Alliance & Leicester, said: "The popularity of the account over the past year has shown us that customers are attracted by the account's lifestyle benefits, not to mention its high credit interest rate." Alliance & Leicester found recently that 58% of over-50s use the internet to manage their finances.