Kent Reliance has taken the Moneyfacts charts by storm after it increased the rates paid by selected fixed rate bonds by up to 0.10% as well as introducing a new, competitive easy access account.
1 Year Fixed Rate Bond Issue 34 now pays a market-leading rate for its term of 2.10% yearly (2.08% monthly), while its two-year counterpart (Issue 32) pays a yearly rate of 2.35% (2.33% monthly), allowing both to improve their positions on the charts.
Meanwhile, Easy Access Account Issue 9 pays a yearly variable rate of 1.55% (1.54% monthly), which also allows it to take a place among the top accounts of its sector.
All of these accounts can be opened and operated online, in branch and by post with a minimum investment of £1,000.
The fixed rate bonds do not allow further additions to be made, but unusually, it is possible to access funds prior to maturity, albeit upon the loss of 180 days' interest.
The easy access deal, on the other hand, permits unlimited additions and penalty-free withdrawals, which can be made without any notice.
All of these deals boast competitive rates, with the one-year bond proving to be particularly competitive with a market-leading return. The easy access deal will appeal to those who are looking for the height of flexibility, as there are no restrictions on withdrawals, but the fixed bonds also offer a welcome degree of flexibility, with early access permitted upon the loss of 180 days' interest. Those seeking a regular income will also be pleased to see that a monthly interest option is available on all accounts.
Moneyfacts rating: Excellent
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