Northern Rock launches new Little Rock Fixed Rate Bond Issue

After the unprecedented popularity of the Little Rock Fixed Rate Bond (Issue 1) earlier this month, Northern Rock has launched a new issue to help children save for their future.

The new 3 Year Little Rock Fixed Rate Bond (Issue 2) offers a competitive rate of interest for a minimum deposit of only £1. And once again, every ‘little rocker’ who opens an account will receive a choice of free gifts from their new friend, Little Rock. The account can be opened through Northern Rock’s branch network, and by post from 2pm today (Wednesday 18 August 2010).

The Little Rock Fixed Rate Bond (FRB) Issue 2 is available to customers aged under 16, with an appropriate adult named on the account as trustee.

The account offers 4.00% gross p.a., fixed until 1 October 2013, with interest paid annually on 31 August. This can be added to the account or paid into another account, or that of another bank or building society. A monthly interest option is also available.

Strictly a limited issue, the non-redeemable Little Rock FRB (Issue 2) can be opened by cash, cheque or by transfer. The account has a maximum balance limit of £20,000, and no withdrawals are permitted before the account reaches maturity on 1 October 2013. The Bond may be withdrawn without notice once fully subscribed, and after this time, no further deposits into the Bond will be accepted

In keeping with Northern Rock’s commitment to providing openness, transparency, and fair treatment of customers, full product details for Northern Rock accounts are available on application in the Terms and Conditions.

Information packs can be obtained by telephoning 0845 600 4466.
(Lines are open 8am to 8pm business days, 8am to 4pm Saturday and 10am to 3pm Sunday. Calls are charged at your service provider’s prevailing rate and may be monitored and recorded.)

Further product details and application forms are also available on Northern Rock’s website northernrock.co.uk/savings