A new offshore savings product has been introduced by Alliance & Leicester International.
The one-year fixed-rate bond will mature on May 31st 2009 and is open now to customers who want to deposit funds.
Offering an AER of 6.65 per cent, the savings account is available to new or existing customers.
However, savers must deposit at least £50,000 and no more than £1 million.
Managing director of Alliance & Leicester International Simon Hull stated that the savings market is very competitive at present.
"We strive to offer the best rate possible in what is a highly-competitive market and our fixed-rate bond offers are proving to be very popular," he said.
He added that the company has tailored its savings products to "suit the individual needs of our customers".
In other news today, spokesperson for Britannia Jayne Dono stated that the savings market is very competitive, with "great deals" available to savers.
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