Account name
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1 year fixed rate bond – issue 71
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What is the interest rate?
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Rates effective 04 September 2020:
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Tier
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Annual Interest gross p.a.*
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Monthly Interest gross p.a.*
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AER*
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| £1,000+ |
1.17% |
1.16% |
1.17% |
*Gross p.a. is the rate of interest paid without the deduction of tax per annum. Please note that the automatic deduction of tax on savings interest ceased with effect from 6 April 2016. AER stands for Annual Equivalent Rate and illustrates what the interest rate would be if interest was paid and compounded once each year. As every advertisement for a savings product will contain an AER you will be able to compare more easily what return you can expect from your savings over time.
Interest is calculated daily and can be credited to the account or transferred to your elected account.
Annual interest is paid on maturity. Monthly interest is paid on the last working day of each month. The final interest payment will be made on the maturity date.
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Can Kent Reliance change the interest rate?
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The interest rate on this account is fixed and cannot be changed throughout the account term. Up to date information on our interest rates can be found on our interest rates page, in branch or by calling our head office.
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What would the estimated balance be after 12 months
based on a £1,000 deposit?
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Deposit Amount
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Annual interest projected balance
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Monthly interest projected balance
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| £1,000 Deposit |
£1,011.70 |
£1,011.70 |
These projections are based on interest being credited to the account at maturity,
no withdrawals and no additional deposits.
The above projections are provided for illustrative purposes only and do not take into account individual circumstances.
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How do I open and manage my account?
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This account can be opened and operated by post, online** or in branch.
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Minimum opening deposit
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Maximum deposit
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Minimum operating balance
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| £1,000 |
£1,000,000 |
£1 |
Additional deposits are not permitted.
**Subject to eligibility. Please refer to our Online services terms and conditions.
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Can I withdraw money?
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Withdrawals and closures are permitted subject to 180 days’ loss of interest on the amount withdrawn. If you withdraw or close the account in the first 180 days, you may get back less than you originally invested.
For postal accounts, send us a signed withdrawal request to Head Office. Alternatively, if you have registered to operate your account online, simply log in and request your withdrawal to your nominated account†.
If you hold a branch account, take your passbook and a form of ID to your local branch and a member of our team will action your request.
There are different payment cut-off times depending on the method of withdrawal you require. For further details please visit our withdrawals page or call our Head Office.
We will write to you 14 days prior to the maturity of your bond notifying you of your options available at the end of the term. If we do not receive your maturity instructions, your funds will be automatically transferred to another product from our current range of available products, which has a term that is closest in length to the product that is maturing and other similar terms and conditions.
†Your nominated account must be a UK Bank/Building Society account held in your name.
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Additional information
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We pay interest without deducting income tax, unless HM Revenue and Customs (HMRC)/the law requires otherwise. However, depending on your personal circumstances, you may be liable to pay income tax on the interest you have earned.
Please visit www.gov.uk for further information.
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