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Northern Rock is adding three fixed-rate bonds

Northern Rock has introduced three fixed-rate bonds and a combined fixed-rate and equity-linked tracker product linked to the FTSE 100.

The fixed-rate bonds have the option to guarantee returns for one, two or three years on a minimum opening balance of £500. Additional deposits can be made up to a maximum of £2m.

The one-year bond has a fixed rate of 4.05 per cent until October 1, 2003. The two-year bond is fixed at 4.4 per cent until October 1, 2004 while the three-year bond is set at 4.65 per cent until October 1, 2005.

The Fifty:Fifty Issue 12 product has a minimum opening balance of £5,000, which is split equally between a two-year fixed-rate bond paying 7 per cent and a five-year equity tracker which offers a return equivalent to 70 per cent of the rise in the FTSE 100 over a five-year period with no risk to capital.

Sales and marketing director Andy Kuipers says: “We are launching three new limited-issue fixed-rate bonds alongside another innovative Fifty:Fifty product which offers the combined benefits of a high fixed interest rate and the potential to tap into stockmarket growth with capital guaranteed.”

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