Northern Rock launches three-year Little Rock Fixed Rate Bond

Northern Rock continues to help children save for their future with a new issue of its Little Rock Fixed Rate Bond (FRB).

The new three-year Little Rock Fixed Rate Bond (Issue 4) offers a competitive rate of interest for a minimum deposit of only £1. Every ‘little rocker’ who opens an account will receive a choice of free gifts. The account can be opened through Northern Rock’s branch network, and by post from 10am today.

The Little Rock FRB (Issue 4) is available to customers aged under 16, with an appropriate adult named on the account as trustee.

The account offers 3.70% gross/AER p.a., fixed until 1 March 2014, with interest paid annually on 31 January. 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 4) 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 March 2014. The bond is strictly a limited issue and may be withdrawn without notice once fully subscribed. After this time, no further deposits into the bond will be accepted.
No closure or withdrawals are permitted before maturity.

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