Account name
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1 year fixed rate bond – issue 98
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What is the interest rate?
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Rates effective 24 June 2022:
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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+ |
2.61% |
2.58% |
2.61% |
*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.
Where interest is payable, interest is calculated daily and can be credited to the account or transferred to your nominated account.
Where annual interest is payable, annual interest is paid on maturity. Where payable, monthly interest is paid on the last working day of each month. Where payable, 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 |
£1,026.10 |
£1,026.10 |
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 early closures are not permitted during the account term.
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 account term.
You can either choose to withdraw your funds into your nominated account† or transfer them into a new or existing Kent Reliance account in your name (subject to meeting any specific terms and conditions for that account).
If we do not receive your maturity instructions, your funds will be automatically transferred to another product from our range of available products, which has a term that is closest in length to the product that is maturing and other similar specific terms and conditions.
†Your nominated account must be a UK Bank/Building Society current 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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