Northern Rock maintains great rates on fixed bonds

Northern Rock has launched a new range of fixed rate bonds (FRB), maintaining competitive interest rates starting from 3.00% gross*/AER** p.a over one year, to 4.15% gross*/AER** pa over five years.

With a minimum deposit of just £1, the accounts are available to open through Northern Rock branches or by post from today (Wednesday, 10 November).

Additional deposits can be made into the bonds (FRB Issues 417, 418 and 419) during the offer period, up to a maximum of £2 million per customer. The bonds are non-redeemable and do not allow any withdrawals or closure during their respective fixed rate periods. Charge-free transfers are also permitted from all Northern Rock variable rate accounts.

Interest can be paid annually on 31 October, or for those who prefer a monthly option, on the last day of the month (available first business day of the following month).

The bonds (Issues 417, 418 and 419) are strictly a limited issue and will be withdrawn without notice once fully subscribed. Once withdrawn, no further deposits will be accepted.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 and Conditions. Further product details and application forms are available on Northern Rock’s website at: northernrock.co.uk/savings

*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.