Following the success of its recently launched Easy ISA, Northern Rock has improved the variable rate cash ISA account, which offers a competitive tax-free* interest rate for a minimum deposit of just £1.

Easy ISA can now be opened and administered by post, as well as in branch.

The Easy ISA Issue 2 account provides a variable rate of interest, and easy access to savings funds. With a minimum deposit of £1, a competitive flat rate of 2.65% tax free*/AER** pa, and the option to transfer across any existing Cash ISAs, Easy ISA makes sense. Balances below £1.00 will earn the basic savings rate of 0.10% tax free* per annum and deposits into the Variable Rate Easy ISA will be allowed from all Northern Rock variable rate accounts, instant access and notice accounts. Transfers from online accounts must be made via the nominated bank account. Transfers in from other organisations are allowed.

The product welcomes additional deposits and transfers within HM Revenue and Customs limits (£5,340 pa from 6 April 2011). Interest, which can be added to the account or paid into another account, is paid annually on 30 November and will be available the next business day.

Charge-free and notice-free withdrawals and transfers (minimum £1) can also be made from the account (there is a £35 fee for transfers via CHAPS).

Via EPR Network
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