Northern Rock offers 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 bond (Issue 6) 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.

The Little Rock FRB (Issue 6) is available to customers aged under 16, with an appropriate adult named on the account as trustee.

The account offers 3.30% gross pa /AER, fixed until 1 September 2014, with interest paid annually on 30 April. 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.

The non-redeemable Little Rock FRB (Issue 6) 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 September 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The bond is strictly a limited issue and may be withdrawn without notice once fully subscribed.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.