Proof of identity and address verified electronically in the first instance.
You
cannot add to your bond during
its term, but you can open additional
bonds subject to availability.
You
cannot make partial withdrawals
from your bond. In exceptional
circumstances the bond may be
closed during the first 12 months
subject to a charge equal to 100
days loss of interest . Thereafter,
the bond can be closed free of
any penalty/loss of interest.
Following
any relevant change in the Bank
of England Base Rate (BOE) the
new rate will be applied to the
bond on the 1st of the following
month.
Interest
will be payable on 5 April. The Annual interest can be transferred by BACS to a bank/building society account.
This
bond can only be opened directly
at our Head Office. To request
an application form call 08451
22 00 22* or it can be downloaded
from this website.
The
society reserves the right to
close this bond at any time after
the initial 12 month period, subject
to 30 days notice in writing.
Minimum
Investment £500
Gross
Rate
% p.a/AER
Net
Rate
% p.a.
Interest
rate
5.50
4.40
With effect from 1 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.
*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.
