Northern Rock Launches Market-Leading Instant Access Branch SaverBy Northern Rock, PRNE
Wednesday, February 9, 2011
NEWCASTLE UPON TYNE, England, February 10, 2011 - Northern Rock has launched a new issue of its instant access savings
account designed for savers who wish to operate their account via a branch.
The Branch Saver (Issue 4) savings accounts (
www.northernrock.co.uk/savings/) will pay a market-leading annual
interest rate of 2.05% gross*/AER** pa variable. Alternatively, customers may
wish to opt for the monthly interest rate of 2.03% gross* variable (2.05%
The account can be opened and operated through Northern Rock branches
with a minimum opening balance of GBP1. Additional deposits can be made up to
the maximum balance of GBP250,000. Only one account per customer per issue is
Interest can be paid annually on 31 July. Alternatively, interest can be
paid monthly on the last day of the month (available first business day of
the following month or three days following this if the funds are sent via
BACS to an external account).
Unlimited, charge-free withdrawals and transfers are permitted (there is
a GBP35 fee for transfers and withdrawals by CHAPS).
Northern Rock has a network of 74 branches across the UK. A branch
locator is available on Northern Rock's website.
This information is directed at professionals only and should not be
relied upon by any other persons. It is not a financial promotion and should
not be displayed as such.
Notes to Editors:
* Gross is the rate of interest paid to eligible non-taxpayers without
deduction of tax. Interest will be paid net of tax unless account holder is
eligible to receive interest gross and submit the required registration form
** 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.
About Northern Rock:
Northern Rock plc is a new bank, authorised by the FSA as a
deposit taker and mortgage (www.northernrock.co.uk/mortgages/) lender
from 1 January 2010. It offers a range of savings (
www.northernrock.co.uk/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
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 Northern Rock House Gosforth Newcastle upon Tyne NE3 4PL +44(0)191-279-4676 www.northernrock.co.uk
Media Contact: Jule Wilson, Northern Rock House, Gosforth, Newcastle upon Tyne, NE3 4PL, +44(0)191-279-4676
Tags: England, February 10, Newcastle Upon Tyne, Northern Rock, United Kingdom