Northern Rock Exclusive Account 3.16%

lemsford

Decided to open one of these but kept Bonus E Saver open in case I need to withdraw money unexpectedly
Also opened online saver for when bonus account runs out

Brian_Bullocks

lemsford wrote: »

Decided to open one of these but kept Bonus E Saver open in case I need to withdraw money unexpectedly
Also opened online saver for when bonus account runs out

Well done :beer:

roxy28

I have a e-saver 4 which will be 12 months old in a few weeks,if i close the account by transfering all to the exclusive account do i still earn the e-saver 4 bonus right up to closure or is there any type of penalty?.

2010

roxy28 wrote: »

I have a e-saver 4 which will be 12 months old in a few weeks,if i close the account by transfering all to the exclusive account do i still earn the e-saver 4 bonus right up to closure or is there any type of penalty?.

You keep the bonus and there`s no penalty.
If you apply for the new account online, what they virtually do is "transfer" your existing esaver 4 to the new account, with all interest to date, more or less instantly.
You even keep the same account number.

barak

roxy28 wrote: »

I have a e-saver 4 which will be 12 months old in a few weeks,if i close the account by transfering all to the exclusive account do i still earn the e-saver 4 bonus right up to closure or is there any type of penalty?.

Yes, you will.[EDIT: as 2010 has just posted!] I closed mine before the 12 months period was up. The only reduction in interest rate would be if [and from the date] you allowed your balance to fall below £10,000.

E-Saver Issue 4
Rates are variable and include an introductory bonus of 2.00% gross, payable for 12 months from the
date of account opening.
Annual interest is paid on 11 March and is available on the next business day. Monthly interest is
paid on the 10th of each month and is available on the next business day.
Maximum deposit limit of £100,000 per account.
Minimum deposit by cheque is £250.
If a deposit results in your account exceeding the maximum deposit limit we will return the deposit
to you in full. This does not include any interest paid if you have requested the interest to be added
direct to your account.
Where the balance falls below £10,000, interest will be earned at the prevailing basic rate, currently
0.10% gross p.a.
Only one account can be opened per customer per issue whether this is a sole or joint application.
Joint accounts will also be subject to a maximum deposit limit of £100,000.
We will provide you with two months notice of any reduction in the rate payable.

roxy28

Thanks 2010 and barak. A bit confused here does the interest get added to the new account straight away,or on 11 march 2012?

Mary_Ta

I opened an 'Online Reward Exclusive' on Wednesday, online from my existing ESavings 4 account, I selected 'Close Account' & transfer balance. The ESavings 4 changed to an 'Online Reward Exclusive' account, in place, i.e. same account number, and it retained all historical transactions on the ESavings 4 account, which was due to mature in 2 weeks time. The outstanding interest including bonus from 11-Mar-2011 - my last interest payment was automatically credited to the accounts balance but remained as an 'uncleared transaction' untill the following day - Thursday/yesterday

roxy28

Ok thanks sounds good and i will open a exclusive account tonight.

Tom_Pickering

Can't see the "online exclusive account" at the website, is it existing savers only?

Ifts

Tom_Pickering wrote: »

Can't see the "online exclusive account" at the website, is it existing savers only?

Link (for new customers too, once registered): http://www.northernrock.co.uk/savings/find/ways-to-apply/Online_Reward_Exclusive/

Also available through link in this article:
http://www.thisismoney.co.uk/money/saving/article-2068107/New-3-16-best-buy-savings-account-Northern-Rock.html

roxy28

Tom_Pickering wrote: »

Can't see the "online exclusive account" at the website, is it existing savers only?

Yes it only showed up for me when i logged in to my account.but the link above says new savers can apply.