The new accounts will be available to open from tomorrow (20 May 2010) with a minimum initial deposit of £500
The limited issue stepped fixed rate cash ISAs (issue 10 and issue 11) can be opened either by post or through Northern Rock branches. Additional deposits (£250 minimum) can be made in to the cash ISAs, within HM Revenue & Customs limits (£5,100 from April 2010) up to 30 days after the products are withdrawn.
The maturity date for the three year stepped fixed rate cash ISA (issue 10) is 15 June 2013 and 15 June 2015 for the five year product (issue 11). Interest, which can be added to the account or paid into another account, is paid annually on 30 November each year.
Should the need arise, minimum withdrawals of £250 can be made from the accounts, subject to a charge equivalent to 180 days’ (issue 10) or 120 days’ (issue 11) loss of interest on the amounts withdrawn.
Northern Rock is also launching a new issue 133 of its fixed rate cash ISA, which will be available to open from tomorrow (20 May 2010) with a minimum initial deposit of £500.
The limited issue fixed rate cash ISA (Issue 133) can be opened either by post or through Northern Rock branches. Additional deposits (£250 minimum) can be made to the cash ISA, within HM Revenue & Customs limits (£5,100 pa from April 2010) up to 30 days after the product is withdrawn.
Interest, which can be added to the account or paid into another account, is paid annually on 30 November.
Should the need arise, minimum withdrawals of £250 can be made from the account, subject to a charge equivalent to 60 days’ loss of interest on the amount withdrawn.
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