Northern Rock launches new fixed-rate bonds

Northern Rock has launched a new range of fixed-rate bonds, offering customers very competitive savings interest rates.

The new bond range offers rates starting from three per cent gross/AER per annum over one year, to 4.15 per cent gross/AER per annum over five years.

Additional deposits can be made into the bonds during the offer period, up to a maximum of £2 million per customer.

The bonds are non-redeemable and do not allow any withdrawals or closure during the respective fixed-rate periods.

Consumers looking for the best saving rates can have interest on the bonds paid annually on October 31st or receive a monthly payment on the last day of the month to guarantee a monthly income.

The bonds are strictly limited issue and can be withdrawn without notice and Northern Rock is encouraging those looking to save money to act quickly.

Northern Rock's announcement of the new bond comes just days after Skipton launched a brand new online bond, designed to make handling savings easier.
 

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2010-11-11 13:13:45 © Moneyextra.com