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Kent Reliance to allow customers to top up to new £15,000 limit even if they open their account before new Budget regulations come in on July 1

By Chris Price

New Kent Reliance customers will be able to top up their ISA accounts to a new £15,000 limit, even if they open the account before new rules come in on July 1.

ISA limits will increase from £11,520 to £15,000 under proposals announced in the Budget this year.

Most savings accounts restrict how, when and where savers can make deposits.

Kent Reliance is based in Chatham
Kent Reliance is based in Chatham

The flexibility of Chatham-based Kent Reliance’s products remains it’s unique selling point.

The lender has also confirmed transfers from other banks will be accepted in both cash and stocks ISA, provided they are completed within 30 days of the account opening.

The news comes days after Kent Reliance’s parent company OneSavings Bank announced it intends to float on the London Stock Exchange.

Sales and marketing director John Eastgate said: “We understand that the current interest rate climate is hard on savers so making the most of the tax free savings allowance is very important.

“Choosing the right account is difficult but we believe it shouldn’t be made even harder by inflexible restrictions on how you manage your savings.”

Kent Reliance is a trading name of OneSavings Bank, which was formed in 2011 from the trade and assets of Kent Reliance Building Society.

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