Northern Rock Increases Interest Rate for Online Savers
Northern Rock has increased the interest rate on its online easy access savings account to 2.5% gross pa, an increase of 0.75%.

NEWCASTLE, ENGLAND, October 16, 2010 /24-7PressRelease/ -- Northern Rock has announced that, from Wednesday 13th October, it will increase the interest rate on its online easy access savings account, e-saver (Issue 3).

e-saver (Issue 3) will pay 2.50% gross* per annum for deposits from GBP1 to GBP100,000 (the minimum deposit by cheque is GBP250). The higher interest rate will be paid to new account applicants and all existing customers. This further enhances Northern Rock's online savings range following the successful launch of Issue 1 of its e-bond in September, which entered 'Best Buy' tables with a market-leading interest rate of 3.00% gross*/AER**.

Unlike many of the highest paying online products available in the current market, e-saver (Issue 3) pays a flat interest rate which does not include an introductory bonus. Savings account holders can also choose to have their interest paid either annually, on 11 March (available the following business day) or on the 10th of each month (the monthly AER** is also 2.50%).

Should the need arise withdrawals can be made via a nominated bank or building society account without notice or charge (there is a GBP35 fee for transfers via CHAPS). The minimum withdrawal is GBP1 for BACS transfers and GBP250 for withdrawals by CHAPS. Customers are able to view their transaction history online.

Additional deposits can be made up to the maximum balance of GBP100,000 by electronic transfer from other bank accounts, a transfer from other Northern Rock accounts or by cheque. e-saver (Issue 3) is strictly a limited issue and will be withdrawn without notice once fully subscribed. Once withdrawn, no further deposits will be accepted.

Full product details are available on application in the Terms & Conditions.

Website: http://www.northernrock.co.uk/

Press Release Contact Information:

Jule Wilson
Northern Rock
Communications Manager
Northern Rock House
Gosforth, Newcastle upon Tyne
United Kingdom NE3 4PL
Voice: 0191 279 4676
Website: Visit Our Website