Northern Rock has launched a second issue of its Online Reward savings account, named Online Reward Exclusive.
The account, available from moneysupermarket.com, allows savers to manage their money entirely online. A minimum of just £1 is required to open the account and it pays an interest rate of 3.16 per cent pa/AER. This also includes a bonus rate of 1.66 per cent gross for the first 18 months.
A monthly interest option is also available at 3.12 per cent gross variable and savers can choose to have their interest deposited to their account annually or monthly. Additional deposits can be made to the savings account up to a maximum of £100,000 and there is a one account per person limit on each issue.
Customers can make free withdrawals from their account at nominated banks and building societies up to six times per year, and beyond this a charge may be applied.
A spokesperson for Northern Rock said the Online reward Exclusive savings account was perfect for “those who prefer the convenience of the internet to manage their savings” and the account was “adding further options to [Northern Rock's] flexible savings range.”
