Alliance & Leicester has claimed that the customers opening one of these accounts will not only receive the better credit interest rate available on the market for the first year, and a great go-to rate one for subsequent years, they will also benefit from the interest free overdraft structure Alliance & Leicester introduced last year.
The current account landscape has changed dramatically in recent years, and while Alliance & Leicester has led the way in introducing current accounts that deliver real value for customers, some of the big banks have been reducing their already paltry in-credit interest rates.
Emma Walkley, current account manager at Alliance & Leicester, said: Despite Alliance & Leicester leading the way and raising the bar on current accounts, others still continue to fall short, paying no more than 0.1% on credit balances. Switching your current account to Alliance & Leicester could see you earning 85 times more interest, and that could mean you earn up to GBP200 more.
