Northern Rock,new account.

Wolf_Man

Just read the terms and conditions and it still looks good. Application printed out and ready for the post

tawse57

Does this mean I could put in 35K oneday and take it all out compeltely whenever I like? That is the impression I get from reading through it or have I missed something fundamental!?

Optimist

tawse57 wrote: »

Does this mean I could put in 35K oneday and take it all out compeltely whenever I like? That is the impression I get from reading through it or have I missed something fundamental!?

That seems to be the case.


Introducing a brand new savings product: the Northern Rock Fixed Rate Access Bond, with a guaranteed rate of 6.90% Gross p.a.2/AER4.

• Available to new and existing customers
• Fixed rate of interest until 20 January 2009
• Withdrawals can be made without any notice or charges
• Can be opened with an initial deposit of just £1
• Choice of annual or monthly interest
• You can even add extra money to your Bond while the Bond is still available to new customers

Mikeyorks

A link to it :

http://www.northernrock.co.uk/

knights

Yes thanks Froglet, well spotted.

Anyone know what the 'A 0.50% gross1 bonus for all our existing savers' bit is on their web site?

Nothing to do with this account is it?

regards

Froglet

Hi Knights.The .50% extra is for those who had savings accounts with Northern Rock back in December,and whose accounts were still active January.From 1st Jan to end Feb we get this extra added to any account we had so no we won't get the extra on this one but hey,it is good enough in it's own right!!

My application is already in the post!!

pem2

The only downside, and as someone else has pointed out on another forum and is shown in the t&c's that all withdrawals are by post and cheque. This could effectively wipe out the extra interest earned on the clearing times etc.

bristolleedsfan

pem2 wrote: »

The only downside, and as someone else has pointed out on another forum and is shown in the t&c's that all withdrawals are by post and cheque. This could effectively wipe out the extra interest earned on the clearing times etc.

ALL savings providers are supposed to be paying interest on cheque receipts now from the second working day following receipt, therefore if tranactions are organised and posted at start of week, loss of interest should be minimal.

http://www.thisismoney.co.uk/saving-and-banking/article.html?in_article_id=426832&in_page_id=7&expand=true#c280601

Optimist

pem2 wrote: »

The only downside, and as someone else has pointed out on another forum and is shown in the t&c's that all withdrawals are by post and cheque. This could effectively wipe out the extra interest earned on the clearing times etc.

You can also transfer it into another Northern Rock account

Calchas

Cheers Froglet :beer:

I've got 3K winging its way towards me from a Barclays 12.5% regular saver and it is now destined for Northern Rock.

Whilst I was at it I also opened an online tracker to transfer it to so as not to have to worry about the posted cheque when I need it back.

My thanks to pem2 for pointing this out and Optimist for providing the solution. :T