Savings Focus – Investec savings accounts offering up to 3.85% AER fixed
Investec Bank continues to offer innovative savings plans which combine a competitive interest rate with efficient service and attractive features. So if you have a minimum of £25,000 to deposit, and you want to take advantage of some of the highest savings rates on the market, their latest range of accounts are certainly worth reviewing. With a range including instant access and fixed terms between 1 and 5 years, there should be something for every saver. All the Investec savings accounts featured below are covered by the Financial Services Compensation Scheme (FSCS).
Investec E-asy Access – 1.30% AER
The E-asy Access Account pays 1.30% AER variable with interest paid monthly and there is no bonus included in the rate so what you see is what you continue to get. This is a no notice easy access account and so there is no restriction on the number of withdrawals or who you can pay. The account is available as a single or joint account and access to account information is via online and telephone banking. Interest is paid monthly and will therefore compound unless paid away into another account. You can apply online, request further information to be sent to you via email, or have someone from the bank call you back.
Investec Bank fixed rate bonds – up to 2.65% AER
For those who are able to tie their money up for a fixed period and are also looking for a fixed and regular rate of interest, Investec offers a trio of fixed rate savings accounts with terms of one, two and three years. As you would expect, the rate of interest increases with the term – the 1 Year Fixed Term Deposit pays 1.95% AER, while the 2 Year Fixed Term Deposit pays 2.35% AER. Higher returns are available for those who are prepared to lock their money away for 3 years, with Investec’s 3 Year Fixed Term Deposit offering 2.65% AER.
Interest on all three fixed rate bonds can be paid annually or monthly, they can be set up as a single or joint account and access to account information is online or via telephone. As with most fixed term accounts, no early withdrawals are permitted. You can apply online, request further information to be sent to you via email of have someone from the bank call you back directly.
Investec 3 Year Base Rate Plus Account – minimum 2.60% AER
For those who want to take advantage of increases to the Bank of England Base Rate but still want the convenience and security of a minimum fixed return, Investec have shown some welcome innovation in the market with their 3 Year Base Rate Plus. The account pays 1% AER/variable above the Bank of England Base Rate but with a minimum rate of 2.60% AER, so whatever happens you know you will never earn less than this.
This account therefore offers you the chance to take advantage of any future Base Rate rises over the next three years whilst also offering the safety net of a minimum return. Interest is not compounded and will be paid into your nominated account annually. No early closure or withdrawals are permitted. You can apply online, request further information to be sent to you via email of have someone from the bank call you back directly.
Investec 5 Year Step Up Bond – up to 3.85% AER
Finally, for those prepared to tie their money up for longer to secure higher returns, the Investec Five Year Step Up Bond pays 2.85% AER interest for the first three years, followed 3.85% AER for the final two years. No withdrawals are permitted during the term of the plan and interest will be paid annually into your nominated account. You can apply online, request further information to be sent to you via email of have someone from the bank call you back directly.
Investec Bank plc
Investec is an international specialist bank and asset manager with its main operations in the UK and South Africa. Established in 1974, they currently employ around 8,200 people and as at April 2014, look after £109.9 billion of third party assets under management. They provide a range of financial products and services and specialise in a number of areas, particularly within the banking sector. Their UK banking operation, Investec Bank plc, looks after £11.1 billion of customer deposits. They are also a market leading provider of investment plans and structured deposits.