Northern Rock fixed rate ISAs with low access charges

Northern Rock is launching three new issues of its fixed rate cash ISA, offering competitive tax-free interest rates coupled with low access charges. The new accounts, which are fixed over a choice of either one, three or five years, will be available to open from today (20 August 2010) with a minimum initial deposit of £500.

Strictly limited issues, the fixed rate cash ISAs (issues 140, 141 and 142) can be opened either by post or through Northern Rock’s branches. Additional deposits (£250 minimum) can be made to the cash ISAs, within HM Revenue and Customs limits (£5,100 pa from April 2010) up to 30 days after the product is withdrawn. After this time, no further deposits will be accepted and all three issues may be withdrawn without notice once fully subscribed.

Interest, which can be added to the account or paid into another account, is paid annually on 30 November. Minimum withdrawals of £250 can be made from the account, subject to a charge equivalent to 60 days’ loss of interest on the amount withdrawn (Issue 140), 120 days’ loss of interest on the amount withdrawn (Issue 141), or 180 days’ loss of interest on the amount withdrawn (Issue 142).

For application forms on all products, visit northernrock.co.uk.