ISA launch is a treble winner for Northern Rock - Savings - News | moneyfacts.co.uk

News

Moneyfacts.co.uk News brings you the latest financial & economic news & reviews of the best products in the UK by our team of money experts.

ISA launch is a treble winner for Northern Rock

ISA launch is a treble winner for Northern Rock

Category: Savings

Updated: 01/07/2010
First Published: 01/07/2010

MONEYFACTS ARCHIVE
This article was correct at the time of publication. It is now over 6 months old so the content may be out of date.
Northern Rock is onto a treble winner with the launch of three attractive new ISAs.

The Fixed Rate Cash ISA Issue 134 is a one year account, with a minimum investment of £500 paying 2.85% yearly. Withdrawals and transfers out are permitted on 60 days' loss of interest.

The Fixed Rate Cash ISA Issue 135 is a three year account, with a minimum investment of £500 paying 3.75% yearly. Withdrawals and transfers out are permitted on 120 days' loss of interest.

The Fixed Rate Cash ISA Issue 136 is a four year account, with a minimum investment of £500 paying 4.20% yearly. Withdrawals and transfers out are permitted on 180 days' loss of interest. Further additions are allowed up to 30 days after the issue closes.

On all the accounts transfers in are permitted, whilst a minimum transaction of £250 is needed. On maturity, the account converts to 30 Day ISA with instant access permitted for 30 days.

The one year term product being withdrawn and re-launched paying 0.10% more is good news for savers, especially as it bucks the recent downward trend in the short term market.

With Northern Rock also extending their product range with the launch of the three and five year terms, this gives consumers another option in the medium and long term market, particularly as all these accounts offers investors best buy rates.

All accounts have been awarded four out of five Moneyfacts stars.

Find the best savings rates for you - Compare savings accounts

Disclaimer: Information is correct as of the date of publication (shown at the top of this article). Any products featured may be withdrawn by their provider or changed at any time.

Related Articles

Just 44 savings accounts beat inflation

Inflation recorded another large jump during December, and predictably, this has had a devastating impact on the number of savings accounts that beat it, so much so that you’ll need to lock your money away if you want an inflation-beating return.

Just 47% have money in a savings account

We’re often told of the importance of saving, yet unfortunately, the message doesn’t always get through. Indeed, research shows that just 47% of those surveyed have money in a savings account, and 17% have no savings or investment whatsoever.

How much will you save this year?

Many of us have set savings goals for the year ahead, and planning to budget better and save more will be at the top of many financial resolution lists. But how much are you hoping to squirrel away? Encouragingly, many people have impressive targets.
 
Close