Kent Reliance Building Society – Savings & Investments account, direct variable rate cash ISA from UK.

A simple statement based easy access account for the over 65's

"earn 6.31% gross"
(variable)

With effect from 1 August 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.

For a transfer form click here.

New ISA rules - from 6 April 2008 click here for more details.

Main features of the account

	Minimum opening deposit and balance £30,000 up until death: Thereafter minimum balance £1. On death, your beneficiary(ies) can opt to continue to enjoy the higher rate of interest applicable to a Direct 65+ variable rate cash ISA regardless of age. However, the interest will be taxable and they will not be able to add further funds to the account.
	Thereafter, invest up to £3,600 in each tax year as and when you like (subject to HM Revenue or Customs limits).
	Minimum age 65.
	Proof of identity and address verified electronically in the first instance.
	Interest paid free of income and capital gains tax for people who live in the UK and is added to the account annually on 5 April (unless the interest is paid monthly).
	Interest can be transferred to your bank/building society account on a monthly basis (however, a lower rate of interest will be paid).
	Add to your savings as and when you like (subject to HM Revenue and Customs limits). 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 as and when you like(without notice or penalty). See section below on withdrawing money from your account.

	The £3,600 annual investment limit applies to the total credits to the account and not the balance. If you pay £3,600 into your account then take out £500 you cannot replace the £500 in the same tax year.
	You will receive a statement in April showing the interest earned for the tax year as well as detailing any transactions in the previous quarter. In addition to this, statements will be sent in January, 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+ variable rate cash ISA regardless of age. However, the interest will be taxable and they will not be able to add further funds 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 and balance £30,000	Tax Free Rate % p.a.	AER %
Top-up your ISA each year thereafter up to £3,600	6.31	6.31
Rate of monthly interest	6.13	6.31

With effect from 1 August 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.

Tax free rate is the stated contractual rate of interest as the interest is exempt from income tax.

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)	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 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.