Products for Expats (Expat Investor)

Simon Ripton, joint managing director of Alliance & Leicester International:

The global recession has resulted in a paradoxical situation for hard pressed savers. In absolute terms the interest rates available to savers have fallen to record lows with savers (and their savings) across the world taking a battering.

However relative to UK Bank Base Rate, the returns from some of the accounts currently at the top of the Moneyfacts Best Buy tables are higher than ever, with some institutions paying a massive 3.50% above UK Bank Base Rate.

Competition in the marketplace remains fierce, as evidenced in the increasing number of new savings products currently available. At Alliance & Leicester International (ALIL), the Isle of Man based international savings bank, we offer a combination of consistently strong ‘Best-Buy’ rates on our products, financial strength and security from our parent, Banco Santander, and following the expansion of our savings range, a comprehensive suite of competitive products available either exclusively online or via phone, post or fax.

ALIL recently launched three new savings accounts to cater for customers who want a greater degree of choice as to how they manage their accounts, via post, phone, fax or online. The Select International, Select 50 International and Select Income International accounts offer rates of up to 2.75% AER variable

In addition, our Fixed Rate Bond range of accounts allows savers to secure their return for either a one and two year period with interest rates of up to 4.00% AER.

For those customers prepared to manage their banking exclusively online ALIL was the first (and remains one of the only banks) to offer a truly online application process via its eSaver Offshore range. With no need for a ‘wet’ signature it allows expats to open and manage one of our eSaver Offshore accounts from anywhere around the globe and earn up to 3.00% AER.

After 19 years serving expats ALIL remains at the forefront of the International Savings market. Check us out at www.alil.co.im.