Rock has new postal account

NORTHERN ROCK has launched a tiered, 30-day notice postal account. Gross rates of return are currently 7.3 per cent (5.47 net) on pounds 2,500 minimum investments, 7.55 per cent (5.66 net) on pounds 10,000, 7.8 per cent (5.85 net) on pounds 25,000 and 8.05 per cent (6.03 net) on investments of pounds 50,000 or more. The rates are fixed until 1 July.

Cheltenham & Gloucester is closing its Best 90 Account to new investors from 17 April. Investors can reserve an account within the next week. They then have 90 days to deposit their money. Through Best 90, C&G guarantees to pay the top 90-day rates each month among the top 10 building societies and Abbey National, for investment tiers of pounds 10,000, pounds 25,000, pounds 50,000 and pounds 100,000. The account at present pays 7.55 per cent gross (5.66 net) on its pounds 10,000 tier.