The Investec High 5 Account is a unique, market-leading savings product. It gives you the confidence of knowing you will receive a consistently competitive rate. It always pays the average of the five highest savings rates in the market, so you never have to search around again for the best rates.
Features
- The rate paid will always be the average of the top five gross rates published by Moneyfacts
- The rate is updated on a weekly basis. Interest is paid monthly or annually
- This is a deposit account subject to three months' notice for withdrawals
- The minimum deposit is £25,000
Benefits
- As the Investec High 5 Account always pays the average of the five highest savings rates published on the Moneyfacts website, you can rest assured that the rate that you are earning is amongst the highest available, week-in and week-out
- We take the hassle out of searching around for the best rate – your account will always earn the average of the five highest rates in the market.
- Your statement can be viewed online
- Investec Bank plc is a member of the Financial Services Compensation Scheme (FSCS). The FSCS protects deposits with the bank up to a total of £50,000 per depositor. Details of the Scheme are available on request.
How Your Account Works
Interest rate calculation
Each week we identify the five highest-paying savings accounts published on the Moneyfacts website, across the categories of no notice accounts, notice accounts, internet accounts, monthly interest accounts, introductory bonus accounts and over 50s accounts.
We take the average rate of the five highest-paying savings accounts, and that rate is set as the Investec High 5 Account’s rate for that week.
The rate is updated weekly, and both the rate and the five highest-paying savings accounts from the Moneyfacts website can be seen on our website, and on your monthly statements.
Interest rate application
Interest on qualifying balances will be calculated daily and credited to your account monthly or annually. You may instruct Investec to remit your interest to another account in your name with any UK bank or building society without charge.
Minimum balance
The minimum balance required to open and operate the account is £25,000.
Balances below this minimum will not earn interest.
Paying in funds
Funds can be paid in to your Investec High 5 Account by cheque, BACS or CHAPS transfer. Please see our paying in details page for more information on how to make payments into your account.
Withdrawing funds
The Investec High 5 Account is a three month notice account for withdrawals. You can make an early withdrawal subject to a penalty fee of 0.50% (minimum £50) at Investec’s discretion.
For more detail, please see our Terms and Conditions.