Alliance & Leicester International has launched a two-year fixed rate bond that offers customers an interest rate from 4%. It has also relaunched its Offshore 180 Plus account.
The two-year fixed rate bond customers who deposit between £5,000 to £49,999 will receive 4% each year to be paid at the end of the two years. For investments of more than £50,000, an interest rate of 4.15% will be paid.
Simon Hull, managing director of A&L International, said: 'The two-year fixed rate product is ideal for investors who want to save for the long term while receiving a guaranteed, minimum-risk return from their money. But once the bond has opened, customers will not be able to access their money or make additional deposits.'
In re-launching the Offshore 180 Plus account investors are offered an annual interest rate of 3.75%. This also includes a 0.25% bonus on the anniversary of opening the account.
The account would suit residents of the Isle of Man, the UK and international investors, currently living or working abroad who are looking for a competitive return and access to their savings. Minimum investment is £10,000 and customers have access to their savings with 180 days' notice.
The increase in minimum AE contributions has had little impact on opt-out rates - with cessations after April increasing by less than two percentage points, data from The Pensions Regulator (TPR) shows.
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