Kent Reliance Building Society – Savings & Investments account, direct 60+ account from UK.

A simple statement based easy access account for the over 60's

"earn 5.65% gross"
(variable)

With effect from 22 May 2008

       Important :This account can only be opened and operated by post through our
       Head Office.

       Please note : Head Office does not offer counter facilities.

       For an application form click here.

Important : If you wish to switch from an existing KRBS passbook-based account, please return your passbook with the application form.

Main features of the account

	A family friendly account, the benefits of which can be passed on to your beneficiary(ies).
	Minimum opening deposit £1. Minimum balance £1.
	Minimum age is 60 (if the account is in joint names, one applicant must be aged 60 or over).
	Proof of identity and address verified electronically in the first instance.
	Add to your savings as and when you like (see section below on paying money into your account).
	A receipt will only be sent for each additional deposit made by cheque.
	Take money out of your account when you need it (see section below on withdrawing money from your account).
	Interest can be transferred to your bank/building society account on a monthly basis (however a lower rate of interest will be paid). In order for monthly interest to be payable there must be a minimum balance of £100 in the account.
	Interest is added to the account annually on 5 April (unless the interest is paid monthly).
	You will receive an annual statement in April showing the interest earned for the tax year as well as quarterly statements in January, April, July and October (if there have been transactions on the account).
	If you have any queries relating to your statements, please e-mail: mail@krbs.com
	On death, your beneficiary(ies) can opt to continue to enjoy the higher rate of interest applicable to a Direct 60+ savings account regardless of age. However, they will not be able to add further funds to the account.
	In the case of a joint account where, on a death, the survivor is under 60, the account will continue to enjoy the rate of interest applicable to a Direct 60+ savings account but no further funds can be added to the account.
	This account can only be opened and operated by post through our Head Office. To request an application form call 08451 22 00 22* or it can be downloaded from this website.

Minimum Opening Deposit £1	Gross Rate % p.a.	Net Rate % p.a.	AER %
£1 and over	5.65	4.52	5.65
Rate for monthly interest	5.51	4.40	5.65

With effect from 22 May 2008 the above interest rates will apply

Annual Equivalent Rate or AER illustrates what the interest rate would be if the interest was paid and added each year. Please note that every advertisement for a savings product which quotes an interest rate will contain an AER allowing you to compare at a glance what return you can expect from your savings over time.

AER - interest which is paid annually on 5 April is the same as the appropriate gross rate or tax free rate. For accounts where the interest is paid monthly the AER is shown.

Gross rate is the rate of interest before deduction of income tax.

Net rate is the rate after deduction of income tax which is currently 20%. Subject to the required certification non tax payers will be able to receive any interest at a gross rate.

Paying money into your account (Click here to download paying in slip)

Deposits can be made by cheque/BACS or CHAPS. Deposit requests should be sent to Head Office using the supplied stationery.

By BACS

If you want to pay money in by BACS just supply your bank, employer or pension provider with the following bank details in order for them to send the funds direct to us.

a) Sortcode: 62-24-97.

b) Account details: this will be the numerical element of your account reference with a zero added in front of the number to make it eight digits long for example DSA5515588KRB would become 05515588.

c) Reference: if a reference is required please quote your whole account number, which includes the prefix and the first three letters of your surname for example DSA5515588KRB.

d) Amount to be transferred.

(please allow three clear working days for this process to be completed).

By cheque

You will need to allow six working days before you can draw against a cheque. The cheque should be made payable in your name(s).
Please quote your account number and address on all cheques.

By CHAPS

Call Kent Reliance on 08451 22 11 22* for further details.

Withdrawing money from your account (Click here to download withdrawal slip)

Withdrawal requests should be sent to Head Office using the supplied stationery.

By BACS

All withdrawals will be made payable by BACS to your nominated bank/building society account . Please provide your account details on the withdrawal slip.

*Calls to 08451 numbers from BT landlines will cost no more than 5p per minute, the price of calls from other telephone companies may vary. For customer service and training purposes, calls to Kent Reliance may be monitored and/or recorded.