Northern Rock raises its rates

BRITISH bank Northern Rock has increased its rates for Irish customers following last week’s ECB interest rate rise to 3.25%.

The bank’s internet account Demand Online will increase by 0.25% to a market-leading 4% gross per annum from October 30. The rate on Northern Rock’s SSIA will increase by 0.25% to 3.25%. All other variable rate accounts will increase between 0.10% and 0.20%.