Northern Rock has launched three new online issues of its Fixed Rate Cash e-ISA to complement its competitive portfolio of internet-based savings accounts.

e-ISA offers those who prefer to operate their accounts via the internet an online option for their tax-free* savings. e-ISA is a cash ISA set at a competitive fixed rate of interest over a choice of one, two or three years and can be opened with no minimum initial deposit.

Interest, which can be added to the account or paid into other savings accounts, is paid annually on the first business day following 5 August on minimum balances of £500 (balances which fall below this amount will earn Northern Rock’s prevailing rate of interest, 0.10% tax free* pa /AER**).

Strictly limited issues, the Fixed Rate Cash e-ISAs (issues 22, 23 and 24) allow transfers in from other providers and additional deposits can be made to the cash ISAs, within HM Revenue and Customs limits (£5,340 per tax-year from 6 April 2011) within 30 days after the product is withdrawn (excepting postal applications to transfer in from other banks and building society ISA accounts, which must be received while the product remains on sale).

30 days following the products withdrawal, no further deposits will be accepted and all three issues may be withdrawn without notice once fully subscribed.

Via EPR Network
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