Northern Rock has improved the variable rate cash ISA account, which offers a competitive tax-free* interest rate for a minimum deposit of just £1. The improvements follow the success of Northern Rock’s recently launched Easy ISA.

Easy ISA can now be opened and administered by post, as well as in branch. It can also be opened over the telephone from the comfort of customers’ home.

The improved Easy ISA account provides a variable rate of interest, and offers easy access to funds. A minimum deposit of only £1 is needed to open the ISA, which offers a competitive flat rate of 2.50% tax free*/AER** pa, and the option to transfer across existing Cash ISAs.

The product welcomes additional deposits and transfers within HM Revenue and Customs limits (£5,100 pa from April 2010). Interest, which can be added to the ISA account or paid into another account, is paid annually on 30 November (available the next business day).

Charge-free and notice-free withdrawals and transfers (minimum £1) can also be made from the account (there is a £35 fee for transfers via CHAPS).

Via EPR Network
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