The Alliance and Leicester online saver savings account is an internet
based instant access savings account and unlike many similar accounts allows you unlimited withdrawals from the account with
no penalties. The interest rate currently being offered also makes it as of the 01/01/2010 the highest paying instant access
savings account with an interest rate of 2.75%. To open the
account you will need to deposit a minimum of £1,000 but the rate is payable on all balances over £1. Interest is credited annually and the maximum allowable in the alliance and leicester
online saver is £2,000,000. The minimum age for applications
is 18 and you can access the funds in your online savings account within 24 hours by transferring funds into another
Alliance and Leicester account or up to 4 days if you choose to transfer the funds to another financial institution. The rate quoted on the Alliance and Leicester online saver instant access savings
account includes a guaranteed variable bonus for a minimum of 12 months. After 12 months the interest rate payable on the savings account reverts to a tired variable rate that
will be dependant on the balance in the savings account.
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