Alliance & Leicester has issued advice to the over 50s who are looking to make better use of their money during the current financial crisis.
The bank is promoting its Premier 50 account, which gives holders a high rate of interest along with health and travel insurance benefits worth in excess of £1,500 for £10 a month.
Those in the age group may be tempted to open such an account, as it could help them save money and reduce the risk of debt and bankruptcy in the future.
Current account manager for Alliance & Leicester Emma Walkley noted that many of the over-50 generation may be tempted to revert to the “make do and mend lifestyle” they experienced growing up.
“Most of the regular outgoings that have risen so much are now set to fall, but they [the over 50s] still need to look at how to save costs,” she explained.
Alliance & Leicester recently launched a new base rate tracker mortgage, which may interest those who are looking to switch their mortgage provider to find a better deal.
By Tom Musk