Kent Reliance cash ISA 4.91%

trickydicky14

Can someone give me some reassurance please. Kent Reliance cash ISA 4.91%. Am I correct in thinking if I open this account now with a minimum of 1k I can add to it as and when during the term of the account as long as I stay within my 20k allowance?

Thanks.

Albermarle

This is a one year fix cash ISA. With most providers you have a limited window to add funds, but KR is one of the few providers that allow deposits throughout the term. So you could add £20K this tax year and £20K next tax year as I understand it.

trickydicky14

Just logged in to open this account only to find it's now down from 4.91% to 4.60%. Should have moved quicker.

surreysaver

You can always open an account without funding them to prevent this situation. They'll just automatically close if you don't fund them within the funding window.

trickydicky14

surreysaver said:

You can always open an account without funding them to prevent this situation. They'll just automatically close if you don't fund them within the funding window.

Lot's require min deposit and a small funding window like 14/21 days at best.

Albermarle

trickydicky14 said:

surreysaver said:

You can always open an account without funding them to prevent this situation. They'll just automatically close if you don't fund them within the funding window.

Lot's require min deposit and a small funding window like 14/
 

Many give the impression that you need to make an initial deposit ( in the way that the application is worded) but in fact it is not necessary.
Can be quite confusing

LMS123

Hi. I'm a bit late adding to this but I opened a fixed Kent Reliance Isa today. The T&Cs are rather confusing in that in one paragraph the account has to be fully funded within 14 days but then "additional information" states that easy access , notice accounts and ISAs can be funded whenever. No mention of fixed ISAs. I had emailed them previously to clarify and was told that this fixed ISA could be funded "at any time during the financial tax year".

So I rang the helpline to clarify that I could fund a fixed rate ISA whenever I wanted and that there wasn't a funding window.
The guy's reply didn't fill me with total confidence as I couldn't understand his accent and he thought I was asking about the 7 day deposit window but I understood that the remainder could be funded as and when.
I left the conversation not feeling confident that he had understood my question and have retained the email stating it can be funded any time during the financial year.

Albermarle

LMS123 said:

Hi. I'm a bit late adding to this but I opened a fixed Kent Reliance Isa today. The T&Cs are rather confusing in that in one paragraph the account has to be fully funded within 14 days but then "additional information" states that easy access , notice accounts and ISAs can be funded whenever. No mention of fixed ISAs. I had emailed them previously to clarify and was told that this fixed ISA could be funded "at any time during the financial tax year".

So I rang the helpline to clarify that I could fund a fixed rate ISA whenever I wanted and that there wasn't a funding window.
The guy's reply didn't fill me with total confidence as I couldn't understand his accent and he thought I was asking about the 7 day deposit window but I understood that the remainder could be funded as and when.
I left the conversation not feeling confident that he had understood my question and have retained the email stating it can be funded any time during the financial year.

I had a similar issue with Shawbrook.
Comments on here and in their T's & C's said you could add to their fixed term ISA's at any time during the term, subject to ISA limits of course.
I opened a 3 year ISA with them ( with a transfer) and received a confirmation letter which said the account could only be added to whilst it was still on sale. After an exchange of e mails, it was confirmed that I could still add to the ISA during the 3 year term and the info I was ( mistakenly) sent only applied to non ISA fixed term products.
In fact I have just added to it so it works !

winkowinko

I opened the Kent Reliance 1 year ISA about the 3 weeks ago when it was 4.91%. I deposited a few £K, but then explained that I would like to add a larger amount when another ISA matures (which happened yesterday).

They were fine with me doing that, and I'm now just waiting for the remaining transfer to go through.

LMS123

Thanks. I missed the better rate as I was waiting for another investment to mature.
It's always the way! I should've opened it with the better rate but was unsure whether or not I could add to it later.
I'll just go with it. Thanks.

winkowinko

To be perfectly honest I didn't know that it was possible, but when I saw rates starting to drop elsewhere, I really didn't want to wait another 3 weeks for my current one to mature before fixing again, as I suspected the 4.91% wouldn't last for long. And it didn't.

Made a quick phone call to them, and they told me that as I was only 3 weeks away from my current one maturing and therefore being able to do the transfer soon, they would honour the 4.91%.

Unsure if you can potentially add to it further down the line (more than a month after opening it), but as I've maxed this years limit already, it isn't relevant for me at least.