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Alliance & Leicester introduces new investment product

Alliance & Leicester has launched a new rate of 9% per annum gross on one-year fixed rate savings account, available when investing in the Balanced Savings & Investment plan.

The plan comprises a one-year fixed rate savings account from Alliance & Leicester and a portfolio bond from Legal & General. The combination of these products is designed for investors looking to balance short-term security with long term growth potential.

Matt Hall, head of savings and investments at Alliance & Leicester, said: This plan balances the need for a safe haven for short term savings, whilst giving the opportunity to invest over the longer term for potentially higher returns than from a typical deposit account.