4% gross interest at Kent Reliance

penny_pincha

4% gross seems a good interest rate in the current climate even for a regular savings account.

Plus points :j-

• No minimum age to open an account.
• only £25 needed to open one
• Can add £500 per month so can drip feed
• instant access with no penalties
• can set up a standing order to pay in

Draw backs

• Need to open an account in a branch which are primarily in the Medway towns or further east.

Perelandra

penny_pincha wrote: »

Need to open an account in a branch which are primarily in the Medway towns or further east.

Which could be a positive, if you don't want the temptation of dipping into savings!

Reaper

There are various other regular savings paying 4 - 6%
http://www.moneysavingexpert.com/savings/best-regular-savings-accounts

penny_pincha

I just thought I would let people know as not a common BS to be flagged up. Also some of the regular saving accounts don't allow you to withdraw your money once in there so tying it up.

nearlyretired2004

N looked at this in detail, but from the OP, another big plus looks like you can put in £500 per month - most reg savers would only be £250-£300

alanq

penny_pincha wrote: »

I just thought I would let people know as not a common BS to be flagged up.

Kent Reliance is no longer a building society.
http://en.wikipedia.org/wiki/Kent_Reliance_Building_Society

penny_pincha

Well sorree.

barak

penny_pincha wrote: »

Well sorree.

penny_pincha - I don't think you have anything to be sorry about! KRBS is a savings institution covered by the Financial Services Compensation Scheme.

This is a very useful post and I've discovered - slightly to my surprise - that although I don't live in Kent there is a 'branch' within easy reach.

Also, as nearlyretired2004 mentioned, no other best buy regular savings account currently allows deposits of £500 per month.

namecheck

I have opened this RS. Bit of a pain to get to a branch to open the account but I felt it was worth it because of the £500 maximum monthly deposit.

Subsequent payments have to be made by Standing Order, or by cheque or cash at a branch.

penny_pincha

penny_pincha wrote: »

4% gross seems a good interest rate in the current climate even for a regular savings account.

Plus points :j-

• No minimum age to open an account.
• only £25 needed to open one
• Can add £500 per month so can drip feed
• instant access with no penalties
• can set up a standing order to pay in

Glad that you found my post useful namecheck

penny_pincha

barak wrote: »

penny_pincha - I don't think you have anything to be sorry about! KRBS is a savings institution covered by the Financial Services Compensation Scheme.

Thanx pleased you found this useful.

barak wrote: »

This is a very useful post and I've discovered - slightly to my surprise - that although I don't live in Kent there is a 'branch' within easy reach.

I hope it works out well for you barak

barak wrote: »

Also, as nearlyretired2004 mentioned, no other best buy regular savings account currently allows deposits of £500 per month.

I thought this too. I wanted to put away more each month but was limited until I found this one to only £250 a month.

I thought the same