Northern Rock launches new fixed-rate bond issue

Northern Rock has continued its offer of the best savings interest rates to help children save for their future with a new issue of its Little Rock fixed-rate bond.

The third issue of the Little Rock bond offers competitive savings interest rates over a three year period for a minimum deposit of £1.

Available to customers aged under 16, the account offers 3.75 per cent gross per annum, fixed until September 2013.

The interest on the account is paid annually on July 31st and can be added to the account or paid into another Northern Rock account of the customers choosing, or that of another bank or building society.

A limited issue, the three-year fixed-rate bond can be opened by cash, cheque or by transfer, a maximum balance limit of £20,000 is on the account and no withdrawals can be made before the account matures in 2013.

Northern Rock recently launched a new variable rate cash ISA which offers customers very competitive savings interest rates.

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2010-09-16 13:20:18 © Moneyextra.com