Kent Reliance Building Society

A simple statement based savings account for the over 65's

"earn 1.47% gross"
(variable)

As at 1 March 2010

    Important: This account can only be opened and operated by post through our Head                        Office. Our accounts are only available to UK residents.

     Please note: Head Office does not offer counter facilities.

     For an information pack 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 65 (if the account is in joint names, one applicant must be aged 65 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 a 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 65+ easy access account regardless of age. However, they will not to be able to add further funds to the account.
	In the case of a joint account where, on a death, the survivor is under 65, the account will continue to enjoy the rate of interest applicable to a Direct 65+ easy access 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 %
Annual interest	1.47	1.18	1.47
Monthly interest	1.46	1.17	1.47

As at 1 March 2010

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 stationery provided.

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) Sort code: 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 to one or more account holders.
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/closure form)

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

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.

*For customer service and training purposes, calls to Kent Reliance may be monitored and/or recorded.