Investec Bank PLC’s saving account tops charts | Product News - Moneyfacts

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Investec Bank PLC’s saving account tops charts

Investec Bank PLC’s saving account tops charts

Category: Savings
Date: 22/08/2014

MONEYFACTS ARCHIVE
This article was correct at the time of publication. It is now over 6 months old so the content may be out of date.

Investec Bank PLC has increased the rate on its two-year fixed rate account by 0.05%, causing it to soar to the top of the Moneyfacts charts.

The basics…

2 Year Fixed Term Deposit is now paying a handsome rate of 2.35% yearly (2.33% monthly).

The finer details…

This account can be opened online and then managed over the internet or by phone. It requires a hefty initial investment of £25,000 and there is no early access available, so investors must be sure that they are completely comfortable with locking away this sum for the full term. Further additions are also not permitted.

The account is a linked product, so an easy-access account must also be opened in conjunction with the fixed rate bond.

Why we like it…

For investors with a big sum to stash away, this account is likely to tick all the boxes. The account's competitive rate ensures that it is ahead of its rivals for its term, but the lack of flexibility and the need to lock away a significant sum may deter other savers.

Four Moneyfacts Stars have been awarded.

Disclaimer: Information is correct as of the date of publication (shown at the top of this article). Any products featured may be withdrawn by their provider or changed at any time.

 

Disclaimer: Information is correct as of the date of publication (shown at the top of this article). Any products featured may be withdrawn by their provider or changed at any time.

 
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