Earn 7% If You're Over 50 - Published:30/10/07
One thing that's bound to get my notice is the launch of an account paying a market most important rate After all, we work hard for our money, so the least we can do is put it in an account so it can do the same for usSo, unsurprisingly, the new coalition & Leicester (A&L) Premier 50 current account piqued my interest It's offering a headline rate of 7%AER set until 30109) to anyone aged over fifty, on balances up to £2,500 What's more, it also offers a 0% EAR overdraft facility for the first 12 months And if you're thinking that this sounds attractive similar to its Premier Direct account (paying 65%AER), it is and it isn'tOn the plus side, different the Premier Direct account you don't need to pay in a set journal income (the PD account requires at least £500 to be paid in each month) The prime minister 50 also offers a figure of benefits, including worldwide travel insurance (up until age 79) and health benefits, counting access to up to two private out-patient consultations and up to £750 towards out-patient diagnostic difficult per year as well as access to 24/7 Health at give helplineInterestingly, account holders can also use the Post Office, in addition to A&L branches, the telephone and internet to carry out transactions on their accounts, which could save a trip or two for many into townSounds pretty good doesn't it So what's the no-win situation Well, as you've probably guessed this doesn't all approach for gratis; indeed the Premier 50 account, unlike the Premier Direct is a supposed packaged account, meaning that it's not free - you'll need to disburse £10 per month to take one outWell, usual readers will know my usual opinion of packaged accounts -- why disburse for banking when you can still get it for free Although banks will argue that their benefits package far outweighs the cost, many people put on't use all of the extras, or with a bit of effort could find that they can get similar cover for far less than £120 per yearHowever, while this can be the case for young, comparatively healthy adults, things can change radically once we start to get older -- and insurers know this Indeed, most older travellers (in exacting those with pre-existing circumstances can find the cost of travel insurance rises significantly with age, and can surely be far more luxurious than £120 per yearAnother issue that I've found with packaged accounts offering yearly travel insurance policies is that they often only insure combined account holders if they're travelling together -- should you need to take a trip alone you'd find you'd have to take out alternative wrap I gave Alliance & Leicester a quick call to inquire about this and found that it isn't the case here: combined account holders are still covered if travelling unconnectedly In addition, the insurance will cover a figure of pre-existing conditions, but you'd require to have this determined on an individual basisIndeed, I grudgingly have to confess that, for a packaged account this isn't a awful one Joint account holders in particular could get pretty good worth -- especially as each holder would be entitled to the two private out-patient checkup consultations What's more, if you know someone with an coalition & Leicester bank explanation already, by making use of the "Recommend a Friend" endorsement you could both get a free £40If you're over fifty and keen to button current account, I would therefore say to obviously check out the free financial records first If you're receiving an income of more than £500 a month and are in pretty high-quality health, the A&L Premier Direct account offers a great rate with no journal chargeHowever, it could be well worth also checking out the A&L Premier 50 account It's hard to create a sweeping generalisation as we all have dissimilar needs (and health issues) but if you're a eager traveller (and have found travel cover policies expensive in the past), would use the health benefits, and tend to keep a high equilibrium in your current explanation, it could be a good explanation for youGive them a call, tell them your situation and get them to do the hard labor and check how useful it could be for you - and most importantly work out whether you would be economy money by paying the £120 per year (if necessary, call for some cover quotes to see now how much an annual policy would cost) Indeed, as this is the only current account meant specifically at the over-fifties, we may just find it's the first of many to approach© Copyright 1998-2007, The Motley Fool Limited All rights reserved This material is for personal use onlyput of Reg: England & Wales corporation Reg No: 3736872 VAT Reg No: 735 7818 01 Registered Office: 30 Great Pulteney road,.
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Earn 7% If You're Over 50 >>
Post Office Instant Saver increases interest rate - Published:12/01/07
The Post Office Instant investor has been immediately affected by nowadays's Bank of England base rate hike, seeing an increase in the rate obtainable to customersAn increase of a quarter of a per cent puts the Post Office Instant Saver's new rate at 55 per cent, following the moment base rate rise since last imposingGuaranteed to keep its rate within one per cent of the base rate, the Post Office Instant Saver enables explanation holders to make as many as six withdrawals per year without incurring a chargeRichard Norman, skull of savings, fixed: "With interest rates increasing three times in the history six months, Post Office Instant Saver customers have benefited each occasion from our commitment to match Bank of England base speed changes until January 2008"Customers are able to manage their account either online, within a Post Office branch or by phone and the Post Office Instant Saver is.
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Post Office Instant Saver Increases Interest Rate >>
Capital One 'homeowner loan' offer worst for junk mail - Published:16/11/06
The Citizens Advice government department (CAB) has named Capital One and its false cheque 'homeowner loan' offers as the worst offender when it comes to surplus junk mailCapital One sends out about 20 million offers of credit and loans per year, of which only one per cent are responded toA spokesperson for CAB said: "The letters can encourage persons who may not actually be able to afford the credit they have been offered to take that particular product"We see proof of people who perhaps have a history of problems with praise being sent these types of unwelcome letters by lenders who specialise in loans and credit for those who have these exacting problems"The Post Office offers the Mail Preference Service, which enables one to take away oneself from the list of recipients, added the taxi spokesmanThe UK currently has the highest level of individual debt in Western Europe, according to a recent survey carried out by DatamonitorMoneyExpert incomplete is authorised and regulated by the Financial Services power (FSA Registration No 301654) The Financial military Authority does not regulate some forms of mortgage.
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Capital One 'Homeowner Loan' Offer Worst For Junk Mail >>
