The introduction of the Personal Savings Allowance will mean most people will no longer pay tax on the interest from their savings
6 April 2016 saw the introduction of the Personal Savings Allowance and, with it, a revolution in savings. From this day forward, the vast majority of savers will no longer pay tax on interest.
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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.
krbs, Kent Reliance Banking Services and Kent Reliance are trading names of OneSavings Bank plc. Registered in England and Wales (company number 7312896). Registered office: Reliance House, Sun Pier, Chatham, Kent, ME4 4ET. OneSavings Bank plc is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority (registered number 530504). We subscribe to the Financial Services Compensation Scheme and the Financial Ombudsman Service. Visit the Money Advice Service
Please note that we’re planning to carry out scheduled testing to our systems in an effort to improve our services.
This means there will be no access to your online accounts between 6am on Saturday 26 September and 10pm on Sunday 27 September.
Our branches will also be closed on Saturday 26 September to support this, and will reopen at 9am on Monday 28 September.
We apologise for any inconvenience this may cause and thank you for your patience.
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