Northern Rock Enhances its Easy ISABy Northern Rock, PRNE
Thursday, October 7, 2010
NEWCASTLE UPON TYNE, England, October 8, 2010 - Northern Rock has improved the variable rate cash ISA account, which
offers a competitive tax-free* interest rate for a minimum deposit of just
GBP1. 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
The improved Easy ISA account provides a variable rate of interest, and
offers easy access to funds. A minimum deposit of only GBP1 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 (GBP5,100 pa from April 2010). Interest, which can be
added to the ISA account (
www.northernrock.co.uk/savings/isas/easy-isa/) 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 GBP1) can
also be made from the account (there is a GBP35 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 (www.northernrock.co.uk/savings/) 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
Northern Rock continues to operate within the compensatory measures
agreed with the EC as part of the State Aid approval announced in October
Northern Rock plc - Registered in England and Wales (Company No.
Registered Office: Northern Rock House, Gosforth, Newcastle upon Tyne,
Authorised and regulated by the Financial Services Authority.
Media Contact: Jule Wilson Communications Manager Northern Rock House Gosforth Newcastle upon Tyne NE3 4PL +44-(0)191-279-4676
Media Contact: Jule Wilson, Communications Manager, Northern Rock House, Gosforth, Newcastle upon Tyne, NE3 4PL, +44-(0)191-279-4676
Tags: England, Newcastle Upon Tyne, Northern Rock, October 8, United Kingdom