Northern Rock Savings has launched a new online account in the form of a new e-saver package.
The gross interest rate per annum is three per cent on the new online account, which Northern Rock feels might attract people looking for a strong place to put their money following the global downturn.
The 3 per cent interest is available on deposits of between £10,000 and £100,000. The account also offers a bonus of two per cent for the first year after the savings account has been opened.
Northern Rock says it allows savers to decide whether to have their interest paid monthly or annually in order to give them plenty of flexibility. The account is also intended to work alongside the existing e-saver account, known as Issue 3, which pays a flat interest rate of 2.5 per cent.
Meanwhile, RBS and Natwest have recently launched a range of new fixed rate bonds for savers who want to invest their money in a higher rate account and are happy to leave it there for a fixed period in order to gain the best rates. Bonds typically offer higher rates than regular savings account, but savers usually have to commit to investing their money for several years.
