Private Bank deposit accounts

The following deposit accounts are available to Investec Private Bank Voyage account holders.

Same day access accounts

Notice deposit accounts

Fixed-term deposit accounts

 

 

Investec Access

 

The Investec Access account is a same day access account available to new or existing clients who meet the Investec Private Bank eligibility criteria.

 

Key features

 

  • Same day access account available in £ sterling
  • Interest is paid monthly
  • Third party payments, including standing orders and direct debits, can be made from the account
  • A minimum balance of £25,000 is required to earn interest
  • No restrictions on the number of withdrawals
  • Interest is variable and managed rates apply

Key product information summary box

  • 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* (variable)
    £25,000+: 0.25% gross p.a./AER* (variable)
     
    Interest is calculated daily and paid on a monthly basis.
  • 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 £25,000 deposit?

    At current interest rates the estimated balance of a £25,000 deposit would be £25,062.50 after 12 months.
     
    Initial Deposit: £25,000. Estimated Balance after 12 months: £25,062.50
    Initial Deposit: £1,000,000. Estimated Balance after 12 months: £1,002,500
     
    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 the Investec Access account on a monthly basis.
     
    If at any time the balance falls below £25,000 a reduced interest rate of 0.00% gross p.a./AER* would apply.
  • How do I open and manage my account?

    This account is only available to new or existing clients who meet the Investec Private Bank eligibility.
     
    There is no minimum initial deposit, however only amounts of £25,000 or over will earn interest.
     
    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.
     
    This account can be opened and managed via Investec Online or over the telephone.
  • Can I withdraw money?

    Funds can be withdrawn without giving notice by telephone or via Investec Online.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

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

Download the Investec Access Factsheet

 

 

Currency Access account

Currency Access Accounts are dedicated foreign currency transactional accounts designed for moving money through different currencies.

 

Key features

 

  • Same day access account available in a range of currencies
  • Interest, where applicable, is paid monthly
  • Third party payments can be made from the account
  • No minimum balance requirement
  • Interest is variable and managed rates apply

 

Key product information summary box

  • What is the interest rate?

    South African rand (ZAR)
    Gross p.a.^: 4.41%
    AER*: 4.50%

    Sterling (GBP)
    Gross p.a.^: 0.05%
    AER*: 0.05%

    Australian dollar (AUD)
    Gross p.a.^: 1.24%
    AER*: 1.25%

    US dollar (USD)
    Gross p.a.^: 0.50%
    AER*: 0.50%

    New Zealand dollar (NZD)
    Gross p.a.^: 1.74%
    AER*: 1.75%

    Canadian dollar (CAD)
    Gross p.a.^: 0.50%
    AER*: 0.25%

     

    Non interest bearing currencies:


    Japanese yen (JPY)
    Swedish krona (SEK)
    Swiss franc (CHF)
    Danish krona (DKK)
    Singapore dollar (SGD)
    Euro (EUR)
    Israeli shekel (ISL)
    Hong Kong dollar (HKD)
    Norwegian krona (NOK)


    Interest, where applicable, is calculated daily and paid on a monthly basis.

  • 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 £1000.50 after 12 months (non leap year). Illustrative examples of other currencies shown below:
     
    Sterling (GBP)
    Initial Deposit:  1000 GBP
    Estimated Balance (Gross p.a.^): 1000.50 GBP
    Estimated Balance (AER*): 1000.50 GBP

    South African rand (ZAR)
    Initial Deposit:  1000 ZAR
    Estimated Balance (Gross p.a.^): 1044.10 ZAR
    Estimated Balance (AER*): 1045.00 ZAR

    Australian dollar (AUD)
    Initial Deposit:  1000 AUD
    Estimated Balance (Gross p.a.^): 1012.40 AUD
    Estimated Balance (AER*): 1012.50 AUD

    US dollar (USD)
    Initial Deposit:  1000 USD
    Estimated Balance (Gross p.a.^): 1005.00 USD
    Estimated Balance (AER*): 1005.00 USD

    New Zealand dollar (NZD)
    Initial Deposit:  1000 NZD
    Estimated Balance (Gross p.a.^): 1017.40 NZD
    Estimated Balance (AER*): 1017.50 NZD

    Canadian dollar (CAD)
    Initial Deposit:  1000 CAD
    Estimated Balance (Gross p.a.^): 1005.00 CAD
    Estimated Balance (AER*): 1002.50 CAD
     
    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 the Currency Access Account on a monthly basis.

  • How do I open and manage my account?

    This account is only available to Investec Private Bank clients who have a new or existing product with us.

    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.

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

  • 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.

Download the Currency Access Factsheet

 

 

Voyage Reserve

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

 

Key features

 

  • One month notice account available in £ sterling
  • Interest is paid monthly
  • No minimum balance requirement
  • Interest is variable and managed rates apply

 

Key product information summary box

  • What is the interest rate?

    The Voyage Reserve account is a one month notice account paying one rate of interest on balances up to £750,000 and another rate for amounts above this as below.

    Current rates:
    £0.01 – £750,000: 0.85% gross p.a./AER* (variable)
    £750,000+: 0.05% gross p.a./AER* (variable)

    Interest is calculated daily and paid on a monthly basis.
  • 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 £1,008.50 after 12 months (non leap year).
     
    Initial Deposit: £1,000
    Estimated Balance after 12 months: £1,008.50

    Initial Deposit: £750,000
    Estimated Balance after 12 months: £756,375

    Initial Deposit: £1,000,000
    Estimated Balance after 12 months: £1,006,500
     
    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 the Voyage Reserve account on a monthly basis.  
     
  • How do I open and manage my account?

    This account is only available to Investec Private Bank clients with a Voyage account.

    There is no minimum initial deposit.

    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.

    Any portion of balance over £750,000 will receive a lower interest rate. This account can be opened and managed via Investec Online or over the telephone.
  • Can I withdraw money?

    One month’s 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. 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.

Download the Voyage Reserve Factsheet
 

 

3 Month Reserve

The 3 Month Reserve account is a notice account exclusively available to Investec Private Bank Voyage Account holders.

 

Key features

 

  • Three month notice account available in £ Sterling
  • Interest is paid monthly
  • No minimum balance requirement
  • Interest is variable and managed rates apply

 

Key product information summary box

  • What is the interest rate?

    The 3 Month Reserve account is a three month notice account paying one rate of interest on balances up to £1 million and another rate for amounts above this as below.

    Current rates:
    £0.01-£1,000,000: 1.00% gross p.a./AER* (variable)
    £1,000,000+: 0.05% gross p.a./AER* (variable)

    Interest is calculated daily and paid on a monthly basis.
  • 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 £1,010 after 12 months (non leap year).
     
    Initial Deposit: £1,000
    Estimated Balance after 12 months: £1,010

    Initial Deposit: £1,000,000
    Estimated Balance after 12 months: £1,010,000

    Initial Deposit: £1,500,000
    Estimated Balance after 12 months: £1,510,250
     
    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 the 3 Month Reserve account on a monthly basis.

  • How do I open and manage my account?

    This account is only available to Investec Private Bank clients with a Voyage account.
     
    There is no minimum initial deposit.
     
    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.

    Any portion of balance over £1,000,000 will receive a lower interest rate.

    This account can be opened and managed via Investec Online or over the telephone.
  • Can I withdraw money?

    3 month’s notice must be provided to withdraw funds. Notice may be given by telephone or via Investec Online.
  • Additional information

    Interest on the account will be paid gross. Direct debits and standing orders cannot be set up on this account.

    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.

Download the 3 Month Reserve Factsheet

 

 

HNW Fixed Term Deposits (over £1,000,000)

Investec offers bespoke rates on Fixed Term Deposits of over £1m. (All other pricing applies for deposits below £1,000,000 with a minimum balance requirement of £25,000).

 

Key features

 

  • £1,000,000 minimum balance requirement for bespoke rates
  • Fixed Term deposits available in £ sterling. Euro, US dollars and other currencies on request
  • Interest on £ sterling deposits can be paid monthly or annually
  • Other currencies are at maturity only
  • Interest rates are fixed and communicated at the time of booking
  • No access to funds available during the term

 

Key product information summary box

  • What is the interest rate?

    For deposits between £25,000 and £1,000,000
     
    1 Year fixed term deposit
    Monthly interest option gross p.a.^: 1.44%
    Monthly interest option AER*:1.45%
    Annual interest option gross p.a./AER*:1.45%

    18 Month fixed term deposit
    Monthly interest option gross p.a.^: 1.49%
    Monthly interest option AER*: 1.50%
    Annual interest option gross p.a./AER*: 1.50%

    2 Year fixed term deposit

    Monthly interest option gross p.a.^: 1.59%
    Monthly interest option AER*: 1.60%
    Annual interest option gross p.a./AER*: 1.60%

    3 Year fixed term deposit

    Monthly interest option gross p.a.^: 1.69%
    Monthly interest option gross p.a.^: 1.70%
    Annual interest option gross p.a./AER*: 1.70%
     
    The interest rate is fixed for the duration of your chosen term.

    Interest is calculated daily and paid either monthly or annually on the equivalent date you opened the account, depending on the frequency you choose at application. For the 18 month fixed term deposit, if the annual interest option is selected, interest is paid annually and at the end of the fixed term.

    Interest is not compounded and it is paid to the account you specify at application.
     
    Bespoke rates for deposits over £1,000,000.

  • Can Investec change the interest rate?

    No. The interest rate is fixed for the deposit term.
    This is in accordance with the ‘Additional Conditions for Fixed Term Deposits’ found in the Investec Bank plc Banking Relationship Agreement at Investec.com/termsandconditions.

  • What would the estimated balance be after the end of the fixed term based on a £25,000 deposit?

    Initial Deposit: £25,000 
    Balance on Expiry Date

    Initial Term 1 Year fixed term deposit
    Term: 12 Months
    Annual Interest Option: £25,500.00
    Monthly Interest Option: £25,495.00

    Initial Term 18 Month fixed term deposit
    Term: 18 Months
    Annual Interest Option: £25,806.25
    Monthly Interest Option: £25,798.75

    Initial Term 2 Year fixed term deposit
    Term: 2 Years
    Annual Interest Option: £26,125.00
    Monthly Interest Option: £26,115.00

    Initial Term 3 Year fixed term deposit
    Term: 3 Years
    Annual Interest Option: £26,800.00
    Monthly Interest Option: £26,777.50

     
  • How do I open and manage my account?

    Fixed Term Deposits (below £1,000,000)


    Fixed Term Deposit accounts are only available to Investec Private Bank clients with a Voyage account.


    £25,000 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.


    Once the account is open, no further deposits or withdrawals can be made.
    This account can be opened and managed via Investec Online or over the telephone.


    Fixed term deposits are opened with an Investec E-asy Access Account into which interest can be paid and deposits can mature. At the end of your fixed term, your funds will be transferred to your E-asy Access Account unless you instruct us to transfer your funds to another account held in your name.


    Fixed Term Deposits (over £1,000,000)


    Bespoke rates on Fixed Term Deposits are only available to Investec Private Bank clients with a Voyage account who deposit over £1,000,000.


    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.


    Once the account is open, no further deposits or withdrawals can be made.
    This account can be opened and managed via Investec Online or over the telephone.
    Fixed term deposits are opened with an Investec E-asy Access Account into which interest can be paid and deposits can mature. At the end of your fixed term, your funds will be transferred to your E-asy Access Account unless you instruct us to transfer your funds to another account held in your name.

  • Can I withdraw money?

    This is a fixed term deposit account, with no withdrawals permitted before the end of the fixed term.
    Fixed term deposits are opened with an Investec E-asy Access Account into which interest can be paid and deposits can mature. At the end of your fixed term, your funds will be transferred to your E-asy Access Account unless you instruct us to transfer your funds to another account held in your name.
  • Additional information

    Interest is 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.

Download the HNW Fixed Term Deposit Factsheet

Join a Private Bank that gets you

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.
 
^Gross p.a. is the rate of interest before any tax is deducted.
*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. Rates correct as at 21 January 2019.