Northern Rock Enhances Its Easy ISA
Released on: October 09, 2010, 5:00 am
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. The improvements follow the success of Northern
Rock's recently launched Easy ISA.
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 customers' home.
The improved Easy ISA account provides a variable rate of interest, and offers easy
access to funds. A minimum deposit of only £1 is needed to open the ISA, which
offers a competitive flat rate of 2.50% tax free*/AER** pa, and the option to
transfer across existing Cash ISAs.
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 ISA 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).
Notes to Editors:
*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.
Application forms for all products are available by phone on 0845 631 5151, or
through the website www.northernrock.co.uk (Calls are charged at the service
provider’s prevailing rate and may be monitored and recorded.)
About Northern Rock:
Northern Rock plc is a new bank, authorised by the FSA as a deposit taker and
mortgage lender from 1 January 2010. It offers savings accounts to customers in the UK and Ireland and
mortgage products to UK borrowers. New products are offered through both direct
channels - including a national branch network - and mortgage intermediaries.
Northern Rock continues to operate within the compensatory measures agreed with the
EC as part of the State Aid approval announced in October 2009.
Northern Rock plc - Registered in England and Wales (Company No. 6952311).
Registered Office: Northern Rock House, Gosforth, Newcastle upon Tyne, NE3 4PL.
Authorised and regulated by the Financial Services Authority.
Northern Rock House
Newcastle upon Tyne
0191 279 4676
Back to previous page
Submit your press release