Northern Rock enhances its Easy ISA

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. It can also be opened over the telephone from the comfort of your own home.

The improved Easy ISA account provides a variable rate of interest, and easy access to your funds. With a minimum deposit of £1, a competitive flat rate of 2.50% tax free*/AER** pa, and the option to transfer across your existing Cash ISAs, Easy ISA makes sense.

The product welcomes additional deposits and transfers within HM Revenue and Customs limits (£5,100 pa from April 2010). Interest, which can be added to the account or paid into another account, is paid annually on 30 November (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).

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

*The tax-free rate is the contractual rate of interest payable where interest is exempt from income tax.
**AER stands for Annual Equivalent Rate and shows what the interest rate would be when interest is paid and added to the capital balance each year.