Male writing notes while checking rates on laptop

01 Jun 2023

Can I get more interest on my personal savings?

Investec has introduced preferential interest rates for private bank clients.


With the Bank of England recently raising the base rate to its highest level in 14 years, the interest rates payable on personal savings held with Investec private bank has increased. In addition, a higher level of interest has been introduced to support your cash flow management. 

Here is a reminder of the Investec private bank savings offering. For more information, please see the account terms and conditions.

What Private Bank Savings Accounts are available?

At Investec we offer two types of private bank deposit accounts: the Voyage Reserve, and the 3 Month Reserve. Both accounts are ‘Notice’ accounts, which means you should tell us in advance if you want to withdraw funds.

What are the interest rates and notice periods for withdrawal?

The Voyage Reserve account is a savings account which pays one rate of interest on balances up to £1m and a higher rate for amounts above this total. You will need to give a notice period of one month to withdraw funds.

The 3 Month Reserve account is a savings account which pays one rate of interest on balances up to £1m and another rate for amounts above this total. You will need to give a notice period of three months to withdraw funds.
The current interest rates are:

Account typeNotice PeriodInterest Rate £0.01 - £1,000,000Interest Rate £1,000,000.01 +
Voyage ReserveOne month3.25% gross p.a. / 3.20% AER (variable)5.00% gross p.a. / 4.89% AER (variable)


Account typeNotice PeriodInterest Rate £0.01 - £1,000,000Interest Rate £1,000,000.01 +
3 Month ReserveThree months3.75% gross p.a. / 3.69% AER (variable)5.25% gross p.a. / 5.13% AER (variable)

Interest is calculated daily and paid on a monthly basis.

What are the latest benefits of using an Investec savings account?

Our newly introduced interest rates (detailed in the tables above) mean that you can now earn a more competitive rate of interest on a higher balance.

Where previously we offered clients the ability to earn interest on balances up to a particular limit, we have removed that cap and introduced new rates for savings in pounds sterling, as part of our commitment to supporting your needs. There is no upper limit to the amount you can deposit.

Designed with the needs of high-net-worth individuals in mind, both the Voyage Reserve account and the 3 Month Reserve account benefit from the support of one of our private bankers, who continue to oversee transactional banking, lending and foreign exchange requirements through our network of specialists.

Your savings account balance can be viewed digitally alongside your transactional banking or currency access account balances. You can ask your private banker to move your money between accounts for you, or you can manage transfers yourself online or using our app, if you prefer.

Do the accounts have a cash withdrawal limit?

There are no limits on the amount you are able to withdraw; it is possible to withdraw your full balance by giving the corresponding period of notice.

Am I eligible for one of these private bank savings accounts?

To open a new Voyage Reserve or 3 Month Reserve account with us you must meet our Private Bank eligibility criteria (a minimum annual income of £300,000 and a net asset value of £3million or more) and have an existing current account or loan with Investec Private Bank.

You must also be a UK resident.

Is there anything else I should take into consideration?

When thinking about your savings, it’s important to consider your short and long-term goals. It is prudent to consider a diversified savings strategy that is right for you. For any further considerations unique to your circumstances, we recommend seeking independent financial advice.

For more information about how we can help you with your private banking needs, please get in touch today.