Alliance & Leicester's Premium 21 account targets young professionals

01 May 2007
Young people between the ages of 16 to 21 just starting out on their careers are the target group for a new 'Premium 21' current account from Alliance & Leicester.

The account is the first tailored offering aimed at young people who start their careers earlier than their university-educated counterparts, going on to work directly after leaving school.

"Many high street banks overlook the needs of young people outside of the undergraduate group," commented Helen Palmer, A&L's current accounts manager.

Alliance & Leicester has stolen a march on competitors by targeting this "relatively untapped market", said's head of current accounts Kevin Mountford.

The Premier 21 also encourages career-makers to cultivate the savings habit by linking the current account to a Plus Saver account with an AER interest rate of 4.80 per cent.

Only customers over 18 will be able to access an overdraft, starting at £250, allowing for some flexibility.

But users will need to be consistent earners, stressed's personal financial expert Mike Naylor, facing a penalty fee if they fail to pay in £250 every month for three months.

Find out more about an Alliance and Leicester current account

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