Market-leading rate for Northern Rock's one year fixed bond

Northern Rock has launched a new issue of its one-year fixed rate bond (FRB), maintaining a market-leading interest rate of 3.00% gross* p.a. With a minimum deposit of just £1, the account is available to open through Northern Rock branches or by post from today (Thursday, 14 October).

For those who prefer to save via the web, Northern Rock also offers an online fixed rate e-bond (Issue 1) paying the same competitive interest rate of 3.00% gross* pa (2.70% gross* monthly/2.73% AER**), which is available at northernrock.co.uk.

Additional deposits can be made into FRB (Issue 416) during the offer period, up to a maximum of £2 million per customer. The bond is non-redeemable and does not allow any withdrawals or closure during the fixed rate period. Charge-free transfers are also permitted from all Northern Rock variable rate accounts.

Interest can be paid annually on 30 September, or for those who prefer a monthly option, on the last day of the month (available first business day of the following month).

FRB (Issue 416) is strictly a limited issue and will be withdrawn without notice once fully subscribed. Once withdrawn, no further deposits will be accepted.

- Information packs can be obtained by telephoning 0845 600 44 66. Full product details are available on application in the Terms and Conditions.
- Further product details and application forms are also available on Northern Rock’s website at www.northernrock.co.uk/savings
- Branch locations are available at www.northernrock.co.uk/contact

No closure or withdrawals are permitted during the fixed rate period.

*GROSS is the rate of interest paid to eligible non-taxpayers without deduction of tax. Please note interest will be paid net of tax unless you are eligible to receive interest gross and submit the required registration form to us.
**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.