Northern Rock,new account.

Froglet

Anyone heard of a new account due to be launched tomorrow from Northern Rock at a fixed rate of 6.9% that you can actually withdraw from and no penalty? However you cannot add to the initial deposit?

Just read it on another forum.Does anyone know whether you can get advance info like this,or could it be a wind up?

If true i shall hold off tying my money up with Bradford and Bingley!!

manic_saver

Froglet wrote: »

Anyone heard of a new account due to be launched tomorrow from Northern Rock at a fixed rate of 6.9% that you can actually withdraw from and no penalty? However you cannot add to the initial deposit?

Just read it on another forum.Does anyone know whether you can get advance info like this,or could it be a wind up?

If true i shall hold off tying my money up with Bradford and Bingley!!

Is this an isa or regular? I am guessing it will be a regular showing that its 6.9% (i think i've answered my own question :rotfl:).

Froglet

Hi,do you mean a regular saver or just an ordinary account? I hope it is true,they are obviously tryinmg very hard to lure savers back to them.I already have a fixed rate isa with them and the silver saver account but at that rate i shall certainly tie up some more.

All will be revealed tomorrow,i hope.Don't want egg on my face!!

Mikeyorks

Froglet wrote: »

... and the silver saver account

..... there was a recent thread pointing out that the 6.49% account (above) + the 0.50% loyalty bonus currently on offer to Mar 08 (but baselined 1.12.07) ---- added to 6.99% (clever!). Except the OP of that thread had innocently grossed it up to 9.49%!

But the existing 6.49% accounts (plus the 0.5%) are the only ones at 6.9% they appear to be admitting to at the moment.

Perhaps it's the new Treasury underwritten (give the taxpayer his £24Bn back) Bonds they're announcing a bit early;)

Froglet

Got my application in already.Very grateful to the poster on the other site for the advance warning.Bet it won't hang around long,especially as penalty free withdrawals!

Greycrow

Froglet wrote: »

Got my application in already.Very grateful to the poster on the other site for the advance warning.Bet it won't hang around long,especially as penalty free withdrawals!

That's a nice find. No much better around, that I know off.
It should also make some of the others sit up and take notice.

Froglet

Yes,if i hadn't been told about it coming up i was about to transfer money in Bradford and Bingley to their 6.5% bond.Even glad i missed their 6.8% bond now!!

The fact you can add to it for a while,and withdraw without penalty if need be is really good.You cannot fault Northern Rock on this one.

tawse57

So this is a bond in name only but is effectively a bog standard savings account with a 6.9% or 6.7% IR guaranteed for 12 months?

Am I missing something here or is it a no brainer now that the UK is backing this bank 100%?

BenL

Thanks for the spot, I have printed the details to look over this afternoon and think about applying.

Wolf_Man

Looks like a win/win one to me

I will be applying for this one, good find.

bristolleedsfan

yip excellent deal now that other fixed rates have fallen so much :T

:beer: Mr Darling :beer: the penalty free withdrawal facility must be so that people arent worried about what might happen to their deposits during any uncertain periods. :T

Bradford And Bingley 1 year fix now 6.20%