Northern Rock is launching three fixed rate bonds, paying 6 per cent for a minimum balance of £500.
The bonds are available for one, two or three year terms, with monthly or annual interest payment options available. Northern Rock account holders can make penalty-free transfers to the bonds.
Bond holders can withdraw funds during the fixed rate periods, although a charge of 60, 90 and 120 days' loss of interest on the amount withdrawn will apply to the one, two and three year bonds respectively.
Northern Rock chief executive Adam Appegarth says: “Fixed rate bonds continue to prove attractive in an uncertain investment environment.