Financial Services > e-banking > Banking news
Northern Rock launches new online savings account

Wed, 16 Feb 2011

Northern Rock has introduced a new online savings account to its range which aims to compliment customers' existing e-savings .

The account will pay 3.00 pr cent gross per annum for deposits from £10,000 to £100,000. E-saver (Issue 4) includes a bonus of 2.00 per cent gross for the first 12 months from when it is opened. Account holders can choose to have their interest paid either annually or monthly (monthly AER is 2.74 per cent).

This product goes with the Northern Rock existing online savings offer, e-Saver (Issue 3), which pays a flat 2.50 per cent gross without any introductory bonus on balances of only £1.

Withdrawals from E-saver (Issue 4) can be made through a nominated bank or building society account without notice or charge, but customers will be charged £35 if they choose to transfer via CHAPS. The minimum withdrawal is £1 for BACS transfers and £250 for withdrawals by CHAPS. Customers will be able to check their transaction history online.
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