12% interest? alliance and leister...

[luckyman]

i have only found out from another post that a&l are giving 12%.....is there any hidden charges or fees that i should know about....after the 17% tax deduction.....

[Ethel]

You have to open a current account and pay in at least �500 per month - (of course you can take it back out again). The interest rate on the current account is rubbish,

The 12% account is a regular saver - you are allowed only to pay in a maximum �250 per month, which is �3000 in total.

So yes, they do indeed pay 12% but you would only get that on the first �250, subsequent months payments would not be in the account long enough.

Interest is taxed at 20%, unless you have an income in the high tax bracket or do not pay tax at all.

[EverClean]

Halifax have a 10% to 12% product (dependent on other accounts with them) and the monthly amount is a maximum of �500.

Looks a better deal to me.