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,.
Read More:
Earn 7% If You're Over 50 >>
Post Office Fiveyear Saver launched - Published:19/10/07
The Post Office has unveiled its new put bond - dubbed the Fiveyear Saver, which guarantees income over five yearsAdditionally, the bond could grow further as it is linked to the FTSE 100 Index, the Post Office has claimedInvestors who have been made worried by the recent unsteadiness of the stock marketplace may find that the Fiveyear Saver is idealThe director of savings and investments at the Post Office, Richard Norman, said: "Although many investors are seeking to advantage from gains in the store market, they also want a guarantee that they won't lose their cash"This is why we are satisfied to announce the launch of a new five year savings bond - with an even better rate of interest"clientele can spend from just £500 and know that they cannot lose their cash, Mr Norman continuedMeanwhile, according to the BBC sub-prime mortgage lending in the UK is accountable for more.
Read More:
Post Office Fiveyear Saver Launched >>
british consumers possess one million bank accounts - Published:09/11/06
The number of basic bank financial records opened since April 2003 has reached one million for those who had previously not banked, according to new data free by the British Bankers' Association (BBA)The BBA has supposed that more than 127,000 post office accounts were opened, while more than 36,000 alive accounts were upgraded to fuller characteristic accountsIts figures also showed that since the launch of worldwide banking in 2003 a net total of 197 million post office accessible financial records have been opened, with more than 171,571 of these being upgradedThe BBA has also suggested that banks were offering basic financial records well before the advent of worldwide banking, with a total of 641,857 such accounts having been opened since 2003Ian Mullen, leader executive of the BBA, said the collection had reached its "milestone in our commitment to the joint goal of making important progress towards halving the number of adults in households without a bank account by November 2006"Terms of employ Advertising Resources manufactured goods guides Press releases.
Read More:
British Consumers Possess One Million Bank Accounts >>
