Alliance & Leicester launches new Super Saver

A new Super Saver account was launched this week by Santander-owned Alliance & Leicester.

The Super Saver account offers a 5.5% fixed rate for 12 months if customers invest an equal amount in any other Alliance & Leicester investment product, including guaranteed capital products.

Customers who only place money in the Super Saver will receive a 2.08% interest rate.

Combining the Super Saver with another investment enables investors to manage risk by balancing short-term security with long-term growth potential, the bank said.

Matt Hall, head of savings at Alliance & Leicester, said the Super Saver is a ‘haven’ for customers’ short term savings, whilst investment products offer potentially higher returns over the long term.

A recent survey by Alliance & Leicester found that many Brits are choosing to save their spare cash during the economic downturn.

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