Kent Reliance has reduced the rates paid on selected savings accounts by up to 0.20%; however, its two-year fixed ISA has still managed to maintain its hold on the top spot thanks to its eye-catching rate and terms.
Two Year Fixed Rate Cash ISA Issue 19 now pays a joint market-leading rate of 1.65% yearly (1.64% monthly), enabling it to sit at the top of its sector.
This account can be opened in branch, by post and online and then operated in the same way as well as by phone. An initial investment of at least £1,000 is required.
In an unusual move, further additions are allowed at any time, while transfers in are also accepted provided they are made within 30 days of opening an account. It is also possible to access funds early on the loss of 180 days' interest, the same penalty as applies to transfers away.
The rate reduction on this deal has done little to dent its competitiveness and it continues to hold a place at the very top of the charts. The fact that it also allows restriction-free further additions and access to funds (albeit upon payment of a penalty) further enhances its overall appeal and ensures that it will continue to be popular among savers.
Moneyfacts rating: Excellent
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