Kent Reliance at 6% or Tesco at 6.5%

[Deleted User]

Hi all,
I'm in two minds as to which of the above accounts to invest in. I have a sizable amount of money consisting of savings and my student loan and would like to put it away for a couple of years. Kent Reliance's 2 year fixed bond appeals to me as the interest rate is comparatively high, but the account is operated by post and I live in student halls so I'm not too chuffed about the possibility of my statements ending up in someone else's possession (this has happened!) I was considering opening a Tesco Internet Saver account to combat this possibility. The 6.5% interest rate is great (includes a 1 year bonus) but how likely is it that this will remain? It's not a fixed account but rather instant access so, given the nature of the economy at present, is it likely to remain this high for much longer? Which account would you choose? Many thanks for your help; the fate of my savings rests in your hands!
Goldilockz x

opinions4u

Bank of Scotland IASA Reward fixed at 5.8% for a year.

www.bankofscotland.co.uk/savings

Open it by phone though.

Then review the market in 12 months time.

JohalaReewi

You could be too late for the Kent Reliance 6% 2 year bond. It closes at 5pm today.
http://forums.moneysavingexpert.com/showthread.html?t=1300059

The Tesco rate is variable and drops to 6% on 27th November.

godsakes

go for KB it's fixed rate (as many commentators are expecting futher rate cuts, some say as low as 1%)

you can download the application form and still have until the 28th to get it in

[Deleted User]

godsakes wrote: »

go for KB it's fixed rate (as many commentators are expecting futher rate cuts, some say as low as 1%)

you can download the application form and still have until the 28th to get it in

Many thanks, I've just put my Kent Reliance application in the post. Hopefully I will still get that rate if, like many people are saying, it lasts until the 28th. I've also been told it closes at 5pm today so not quite sure what to believe! It's done now. Thanks for all your help!

mary

When I rang today, they told me, you can download or apply for it up until 5 p.m. from them and they give you until 28th to get the paperwork in.

[Deleted User]

mary wrote: »

When I rang today, they told me, you can download or apply for it up until 5 p.m. from them and they give you until 28th to get the paperwork in.

Thanks Mary, that sounds promising. Hopefully I'll still get the rate on the website.

soulsaver

Deleted_User wrote: »

Many thanks, I've just put my Kent Reliance application in the post. Hopefully I will still get that rate if, like many people are saying, it lasts until the 28th. I've also been told it closes at 5pm today so not quite sure what to believe! It's done now. Thanks for all your help!

Phone them and tell them you were told 28th and have relied on that, and posted your forms today (or yesterday...;) if nowt in there to prove otherwise) and will they put you on the list for the existing fix, pretty pleeeeeeze... just to be on the safe side. You'll hear it from them. Make a note of name of person you talked to, the date & time of the conversation. If there is a dispute later you have contemporaneeeuush.. er, evidence..

frames1_uk

I sent off my application for the 2 year Kent Reliance bond today, send it recorded delivery, just in case! If the application form is on the website (as it was today) for download, surely this means they have to accept application that were sent that day?

Mumto2

I've spoken to them twice and both times were told apps will be accepted until the 28th, so shouldn't be a problem.

caveat_emptor

Deleted_User wrote: »

Hi all,
I was considering opening a Tesco Internet Saver account to combat this possibility. The 6.5% interest rate is great (includes a 1 year bonus) but how likely is it that this will remain?
Goldilockz x

Tesco's rate reduces to 6% at end of November.