NEWCASTLE UPON TYNE, England, June 1, 2011 /PRNewswire/ --

Northern Rock has announced the launch of the latest issue of its easy access savings account for customers wishing to manage their funds exclusively online. E-Saver (Issue 6) is available now and pays 2.75% gross* pa/AER**.

The new Northern Rock savings account ( http://www.northernrock.co.uk/savings/ ) can be opened with an initial investment of GBP1 and E-Saver (Issue 6) allows subsequent deposits from as little as GBP1. The account allows a balance of up to GBP100,000 and account holders can choose to have their interest paid either annually on 11 March or monthly (on 10th of the month. Monthly gross* is 2.72% pa variable).

Withdrawals from E-Saver (Issue 6) can be made via a nominated bank or building society account without notice or charge (there is a GBP35 fee if customers choose to transfer via CHAPS). The minimum withdrawal is GBP1 for BACS transfers and GBP250 for withdrawals by CHAPS. Customers are able to view their transaction history online.

Additional deposits can be made up to the maximum balance of GBP100,000 by electronic transfer. E-Saver (Issue 6) is strictly a limited issue and will be withdrawn without notice.

This information is directed at professionals only and should not be relied upon by any other persons. It is not a financial promotion and should not be displayed as such.

ENDS

Notes to Editors

*GROSS is the rate of interest paid to eligible non-taxpayers without deduction of tax. Please note interest will be paid net of tax unless applicant is eligible to receive interest gross and submits the required registration form

**AER stands for Annual Equivalent Rate and shows what the interest rate would be when interest is paid and added to the capital balance each year

About Northern Rock

Northern Rock plc is a new bank, authorised by the FSA as a deposit taker and mortgages (http://www.northernrock.co.uk/mortgages/ ) lender from 1 January 2010. It offers ISAs ( http://www.northernrock.co.uk/savings/Find/Results/ISAs/ ) and other savings accounts to customers in the UK and Ireland and mortgage products to UK borrowers along with a simple online mortgage calculator ( http://www.northernrock.co.uk/Mortgages/Find). New products are offered through both direct channels - including a national branch network - and mortgage intermediaries.

Northern Rock continues to operate within the compensatory measures agreed with the EC as part of the State Aid approval announced in October 2009.

    
    Media Contact:
    Jule Wilson
    Northern Rock House
    Gosforth
    Newcastle upon Tyne
    NE3 4PL
    +44(0)191-279-4676

http://www.northernrock.co.uk

SOURCE Northern Rock