Savings update: Kent Reliance raises easy-access rate to 1.5%

28 November 2018

Kent Reliance has raised the rate on its easy-access account to a top 1.5%.

It now matches the rate offered by Goldman Sachs’s Marcus account, which has topped best buy tables since its launch a couple of months ago.

However, unlike the Marcus online saver, the Kent Reliance account does not come with an initial bonus. The Marcus rate includes a 0.15 percentage point bonus for the first year.

On fixed-rate bonds, the best six-month rate is 1.8% from OakNorth Bank, while Tandem Bank pays 2.05% fixed for one year.

Other top one-year deals include 2.02% from OakNorth and 2.01% from both Kent Reliance and Charter Savings Bank.

For two years, Sharia-compliant Al Rayan Bank pays 2.32% followed by Charter Savings Bank, Investec Bank and Tandem Bank all paying 2.3%.

On tax-free cash Isas, both Charter Savings Bank and Virgin Money pay 1.4%, but with the Virgin account you are limited to two withdrawals a year.

On fixed-rate cash Isas, both Charter Savings Bank and Al Rayan Bank pay a top 1.6% for 12 months, while Paragon, Aldermore, Clydesdale and Kent Reliance all pay 1.55%.

For two years, you can earn 1.82% through both Paragon and Bank of Cyprus UK.


In reply to by anonymous_stub (not verified)

Annoyingly you have to apply for the new rate 'Easy Access' (was 1.26% now 1.5%) account even if you already have an account with them! The only logical reason they don't, is presumably they hope existing savers will miss the update or not bother. In my experience the only bank I know who have applied any increased rate automatically is RCI Bank, sadly they're lagging behind now at 1.37% (Freedom Savings Account).

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