According to Northern Roc, the account will pay 3% gross per annum for deposits from GBP10,000 to GBP100,000.
E-saver (Issue 4) includes a bonus of 2% gross for the first 12 months from opening. Account holders can choose to have their interest paid either annually or month (monthly AER is 2.74%).
This product compliments Northern Rock existing online savings offer, e-Saver (Issue 3), which pays a flat 2.50% gross without any introductory bonus on balances of only GBP1.
The withdrawals from E-saver can be made via a nominated bank or building society account without notice or charge. The minimum withdrawal is GBP1 for BACS transfers and GBP250 for withdrawals by CHAPS. Customers can view their transaction history online.
Additional savings deposits can be made up to the maximum balance of GBP100,000 by electronic transfer from other bank accounts, a transfer from other Northern Rock accounts or by check.
