Currency Access

Key product information summary box

What is the interest rate?

Product	Currency	Gross	AER*
Sterling	GBP	2.84%	2.88%
US Dollar	USD	1.66%	1.70%
Euro	EUR	1.00%	1.02%

 

* AER stands for the Annual Equivalent Rate and illustrates what the interest rate would be if interest was paid and compounded once a year. "Gross" is the contractual interest rate paid before the deduction of any tax. 

Can Investec change the interest rate?

Investec can change the interest rate.

We will give you notice of any change to the interest rate in accordance with section 9 of the Investec Bank plc Banking Relationship Agreement which can be found at Investec.com/termsandconditions.

We will tell you by email if and when we change the interest rate.


What would the estimated balance be after 12 months based on a £1,000 deposit?

At current interest rates the estimated balance of a £1,000 deposit would be £1,028.78 after 12 months (non leap year). Illustrative examples of other currencies shown below:



Currency	Initial deposit	Estimate balance after 12 months
Sterling (GBP)	£1,000	£1,028.78
US dollar (USD)	$1,000	$1,016.95
Euro (EUR)	€1,000	€1,010.19


Based on current rates. These examples are illustrative only and are based on the assumption that the initial deposit does not change throughout the period, there are no changes to the rate and interest is paid back into your instant access savings account on a monthly basis.

How do I open and manage my account?

This account can be opened and managed via Investec Online or over the telephone.

No minimum initial deposit requirement.


There is no maximum balance limit. We may, however, decline to accept your application/additional deposits to avoid excessive exposure to a single client if we consider the total value of deposits you hold with us exceeds a limit we consider reasonable.


Can I withdraw money?

Funds can be withdrawn without giving notice by telephone or via Investec Online.


Additional information

Direct debits and standing orders cannot be set up on this account.

Where applicable, interest will be paid without tax being deducted.

Your tax treatment of the interest receipt will depend on your individual circumstances and if you have any specific tax questions, you should seek professional tax advice. Alternatively, further guidance can be found on the HMRC website.

Please note that your tax treatment may be subject to change in the future.