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Northern Rock Savings Rate Back Up To 2.50% On E-saver Issue 2

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http://www.northernrock.co.uk/savings/onli...?utm_source=003

2.50% gross [read small print on the site for explanation!]

Interest rate includes an introductory bonus of 1.00% for 12 months Account access 24/7 Maximum deposit limit of £250,000 Maximum of one account per issue, per customer Key features of E-Saver Issue 2:

Interest rate includes a 1.00% bonus payable for 12 months from the date the account was opened. After this time, the interest rate will then be the applicable interest rate without the introductory bonus

Online savings account giving you access to your funds 24/7

Open with an initial deposit of just £1

Online management of all account transactions including balance enquiries and viewing statements Variable rate of interest

Only one E-Saver account can be opened per customer, whether this is a sole or joint application

Add any amount from £1 to £250,000

Unlimited charge-free withdrawals

This is a strictly limited issue

I'm 99% sure this was under 2% a week or two ago.

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I'm 99% sure this was under 2% a week or two ago.

Yes, I just noticed this new rate.

The original ESaver still stands at 1.85%, but because this new rate of 2.5% consists of a 1% bonus if you keep the money in for 12 months, maybe it is in anticipation of the plans to sell off NR soon, so people don't take their savings out, as soon as the deal is done? :unsure:

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As far as I can make out you don't need to keep the money there for the 12 months to get the bonus, certainly this was not the case on the original esaver.

If you have an original esaver account it's a two minute job to switch it to the new one.

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As far as I can make out you don't need to keep the money there for the 12 months to get the bonus, certainly this was not the case on the original esaver.

If you have an original esaver account it's a two minute job to switch it to the new one.

many thanks for that.

I just phoned them, and you are indeed right.

They confirmed that you do not need to keep it in 12 months to get the extra interest, and that you can just open Issue 2 and transfer the funds simply online.

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I just called as well, strange that they are not wording this clearly! Why not just call it 2.50% easy access with no penalties.

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I just called as well, strange that they are not wording this clearly! Why not just call it 2.50% easy access with no penalties.

Yes. I can't uderstand why they have made it sound so complicated.

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Yes. I can't uderstand why they have made it sound so complicated.

They are doing 3.6 on a one year bond i think. Much better than most. Lloyds are 2.5 on the internet account which is as good as their bonds.

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