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ALIL launches issue 16 of 1-year fixed rate bond

Alliance & Leicester International Limited is launching a limited edition one-year fixed rate bond with a fixed interest rate of 5 per cent.

Customers can deposit between £10,000 and £1,000,000 into this 16th issue of the bond, which will mature on March 31 2006.

All bonds in the offshore savings bank’s range offer investors the choice of paying interest on the maturity of the bond, or monthly, and it can be transferred into another ALIL account, or into a bank or building society account in the Isle of Man, Channel Islands or UK.

Annual interest gross a year fixed rate is 5.00 per cent. Monthly interest gross a year fixed rate is 4.90 per cent, with a monthly interest AER fixed rate of 5.01 per cent.

ALIL managing director Simon Hull says: “Our range of short term bonds has been received by both new and existing customers, leading to our launching the 16th issue of the limited edition bond. This gives savers the security of a fixed rate with the option of assessing the market again for the best deal in 12 months time.”

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