Private Bank deposit accounts

 

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The following accounts are available from Investec Private Bank for Voyage clients only.

Not already a Voyage client? 

Our private bank deposit accounts are exclusively available to Voyage clients. 

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Same-day access accounts

 

Investec Access

 

Investec Access is a same-day access account available to clients of Investec Private Bank.

 

Key features

Same day access account available in £ sterling

Interest is paid monthly

Online and mobile banking access

Third party payments including standing orders and direct debits can be made from the account

Interest is variable and managed rates apply

A minimum balance of £25,000 is required to earn interest

Account name Investec Access
What is the interest rate?

The Investec Access is a same day access account, paying interest on amounts over £25,000.

Current rates:

£0.00 - £24,999: 0.00% Gross p.a./AER*

£25,000+: 0.25% gross p.a./AER*

Interest is calculated daily and paid on a monthly basis.

Can Investec change the interest rate?

Investec can change the interest rate.

If the change is in your favour, we will notify you within 30 days of the change.

If the change is not in your favour, we will provide 60 days’ prior notice  and valid reasons for making the change. Please refer to the specific terms and conditions of the account for more details.

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

After 12 months (non leap year), at current interest rates an initial deposit of £1,000,000 would accumulate interest of £2,502.87. This would provide a final balance of £1,002,502.87.

If at any time the balance falls below £25,000 a reduced interest rate of 0.00% gross p.a./AER* would apply.

This example is illustrative only and is 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 onto the Investec Access Account on a monthly basis.

How do I open and manage my account?

This account is only available to Investec Private Bank clients.

Only amounts of £25,000 or over will earn interest.

There is no maximum balance limit although Investec Bank plc may impose limits at its discretion.

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

Can I withdraw money? Funds can be withdrawn without giving notice by telephone, online banking, mobile banking or in writing.
Additional information

Direct debits and standing orders can be set up on this account.

Interest will be paid without tax being deducted from 6 April 2016. 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.

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Specialist Access

 

Specialist Access is a same-day access account available to platform, other intermediary, trust and special purpose vehicle clients of Investec Private Bank.

 

Key features

Same day access account available in £ sterling

Interest is paid monthly

Online and mobile banking access

Third party payments can be made from the account

Interest is variable and managed rates apply

A minimum balance of £25,000 is required to earn interest

Account name Specialist Access
What is the interest rate?

The Specialist Access is a same day access account, paying interest on amounts over £25,000.

Current rates:

£0.00 - £24,999: 0.00% Gross p.a./AER*

£25,000+: 0.05% gross p.a./AER*

Interest is calculated daily and paid on a monthly basis.

Can Investec change the interest rate?

Investec can change the interest rate.

If the change is in your favour, we will notify you within 30 days of the change.

If the change is not in your favour, we will provide 60 days’ prior notice and valid reasons for making the change. Please refer to the specific terms and conditions of the account for more details.

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

After 12 months (non leap year), at current interest rates an initial deposit of £1,000,000 would accumulate interest of £500.11. This would provide a final balance of £1,000,500.11.

If at any time the balance falls below £25,000 a reduced interest rate of 0.00% gross p.a./AER* would apply.

This example is illustrative only and is 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 onto the Specialist Access Account on a monthly basis.

How do I open and manage my account?

This account is only available to Investec Private Bank clients.

There is no minimum balance requirement. Only amounts of £25,000 or over will earn interest.

There is no maximum balance limit although Investec Bank plcmay impose limits at its discretion.

This account is viewable via Investec Online and can be managed over the telephone.

Can I withdraw money? Funds can be withdrawn without giving notice by telephone or in writing
Additional information

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

Interest will be paid without tax being deducted from 6 April 2016. 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.

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Currency Access accounts

 

Specialist Access is a same-day access account available to platform, other intermediary, trust and special purpose vehicle clients of Investec Private Bank.

Currency Access account details >

 

 

 

Notice accounts

 

Voyage Reserve

 

The Voyage Reserve account is a one month notice account exclusively available to Investec Private Bank Voyage account holders.

Voyage Reserve Account details >

 

 

Three Month Reserve

 

The Three Month Reserve is a notice account available to clients of Investec Private Bank UK.

 

Key features

Three month notice account available in £ sterling

Interest is paid monthly

Online and mobile banking access

No minimum balance

Interest is variable and managed rates apply

Account name Three Month Reserve
What is the interest rate?

The Three Month Reserve Account is a 3 month notice account, paying one rate of interest on funds up to £5 million and another rate for any portion of your funds over this amount as below.

Current rates:

£0.01 - £5,000,000: 1.00% Gross p.a./AER*

£5,000,000+: 0.40% gross p.a./AER*

From 16 January 2018 these rates will be: 1% gross p.a./AER* variable on funds up to £1m and 0.05% gross p.a./AER* variable on any portion of funds over £1m.

Interest is calculated daily and paid on a monthly basis.

Can Investec change the interest rate?

Investec can change the interest rate.

If the change is in your favour, we will notify you within 30 days of the change.

If the change is not in your favour, we will provide a minimum of 60 days’ prior notice and valid reasons for making the change. Please refer to the specific terms and conditions of the account for more details.

How do I open and manage my account?

This account is only available to Investec Private Bank UK clients.

There is no minimum balance requirement.

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

Can I withdraw money? Three months’ notice must be provided to withdraw funds. Notice may be given by telephone or via Investec Online
Additional information

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

Interest will be paid without tax being deducted from 6 April 2016. 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.

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Fixed Term Deposits (£1m +)

Investec offers bespoke rates on Fixed Term Deposits of more than £1m. Interest rates are fixed and communicated at the time of booking. Deposits for terms of between one week and five years are available.

 

Key features

Fixed Term deposits available in £ sterling, euros, US dollars and other currencies on request

Interest can be paid monthly or annually

Online and mobile banking access

No access to funds available during the term

A minimum balance of £1m is required for bespoke rates

Other pricing applies for deposits below this amount (min £25,000)

Account name Fixed Term Deposits (£1m +)
What is the interest rate?

Interest rates change on a daily basis and vary depending on the term you request and the amount to be deposited.

Rates are available by contacting Investec Private Bank.

Specific rates will be communicated to you prior to booking and acceptance of the deposit terms and conditions.

Interest is calculated daily and can be paid on a monthly or annual basis.

Can Investec change the interest rate? Once booked, the rate will remain unchanged until the end of the term.
What would the estimated balance be after 12 months based on a £1,000,000 deposit?

A fixed term deposit is only available to Investec Private Bank clients.

The minimum balance is £25,000.There is no maximum balance limit although Investec Bank plc may impose limits at its discretion.

Deposits are viewable via Investec Online and can be managed over the telephone.

How do I open and manage my account?

This account is only available to Investec Private Bank clients.

There is no minimum balance requirement.

Any portion of balance over £5,000,000 will receive a lower interest rate.

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

Can I withdraw money?

This is a Fixed Term Deposit account, with no early withdrawals permitted.

Fixed Term Deposits are opened with an Investec fee-free E-asy Access account into which interest can be paid and deposits can mature.

Additional information

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

Interest will be paid without tax being deducted from 6 April 2016. 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.

*AER stands for the Annual Equivalent Rate and illustrates what the interest rate would be if interest was paid and compounded once a year. The AER is intended to be an indicative rate to help you compare the return on different savings products. Interest is variable and is paid monthly. Rates correct as at 01.08.2017.

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Investec Financial Services Compensation Scheme

Your protection

Financial Services Compensation Scheme

Your eligible deposits are protected under the UK’s Financial Services Compensation Scheme (FSCS).

Investec Specialist Bank is a part of Investec Bank plc (registered no. 489604). Registered address: 2 Gresham Street, London EC2V 7QP. Investec Bank plc is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority and is a member of the London Stock Exchange.