Northern Rock has launched a new e-bond account, providing a competitive interest rate for those savers who wish to operate their account online.

With a minimum deposit of just £1, customers can benefit from a fixed rate of interest for one year. e-bond (Issue 1) pays 3.00% gross*/AER** pa until 20 October 2011. Accounts must be opened and operated online. Initial deposits can be made online by electronic transfer from another bank or building society, or from an existing Northern Rock account.

Account holders can choose to have their interest paid annually (interest is calculated daily) on 5 August, or monthly (the monthly interest rate is 0.30% below the gross* annual rate) on the 7th of the month (available next business day).

Additional deposits can be made during the offer period up to a maximum of £250,000 per customer. e-bond (Issue 1) is non-redeemable and does not allow any withdrawals or closure during the fixed rate period. The fixed rate bond is offered on a limited issue basis and will be withdrawn without notice once fully subscribed. Once withdrawn, no further deposits will be accepted.

In keeping with Northern Rock’s commitment to providing openness, transparency, and fair treatment of customers, full product details are available at Northern Rock’s website at www.northernrock.co.uk/savings.

Via EPR Network
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