- FSCS protects deposits up to £85,000 per person
Since they were founded in 1974, the Investec Group has gone from strength to strength. They acquired London-based Allied Trust Bank Limited in 1992, and in 1997, renamed it to Investec Bank (UK) Limited before it then became Investec Bank PLC in 2009. Investec offers savings accounts that have been designed to help you achieve your financial goals without compromising on flexibility.
The FSCS protects deposits made into savings accounts offered by Investec Bank PLC through our marketplace, and Investec Bank PLC is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority.
/ 0.80% Gross
Interest is calculated daily on the full closing balance in the Account.
If you make a withdrawal request, interest will be calculated on the total amount in the Account up to, but not including the day of the withdrawal.
Interest is applied to the Account on the first Business Day of every month.
Yes, the interest rate is variable and can be increased or reduced at any time.
If Investec increase the interest rate on your account, the change will take effect on the first day of the next calendar month (or in some cases, immediately).
If Investec decrease the interest rate on your account, we will notify you at least 59 calendar days before the decrease takes effect and provide a reminder notice to you 14 days before.
Please review the Meteor Asset Management (MAM) Terms and Conditions for more information.
The estimated balance after 12 months on a deposit of £1,000 is £1008.03. This projection is for illustrative purposes only and assumes that you make the full deposit when opening the account and do not make any withdrawals in the following 12 months. These examples are not based on your individual circumstances.
This account is available to all UK residents over the age of 18, with a minimum balance of £1,000 and a maximum balance of £85,000.
To remain open, the account must retain a minimum balance of £1,000.
You can open, operate and close the Investec 32 Day Notice Account all directly through Raisin. Savings accounts at Raisin are only available through this online application process, and to be eligible to apply, you must:
• Be a UK resident who is aged 18 or over
• Hold a UK bank or building society account from which you will fund your application
• Have a valid mobile phone number and email address
• Have a UK National Insurance Number
Your application acceptance will be subject to the successful completion of Anti-Money Laundering/Know Your Customer (AML/KYC) check.
You can manage your savings account through Raisin by logging into your Raisin Account.
You can contact Raisin by telephone, by email or in writing by using the contact details provided in the Raisin Terms & Conditions.
Please ensure you have read and understood all sets of Terms and Conditions before applying for this product.
You may withdraw the full deposit amount only. This will be subject to a 32 day notice period. You are unable to add to the initial deposit or make partial withdrawals.
If termination is received on a non-business day (either weekend or public Holiday), the notice period will start from next business day.
Once notice has been given it can’t be revoked.
If a termination falls on a non-business day, then payment will be made on the next business day and interest will be paid for the additional days. e.g. If a notice account terminates on a Saturday and funds are returned on the Monday, interest will be paid for the intervening Sunday.
The information provided in this summary box is a summary of the key features of this Account and should be read in conjunction with our Product Sheet.
MAM, with their administration arm Meteor Investment Management (MIM), will administer the deposit on your behalf.
Funds will appear in MIM’s account by the following business day from funding your application at the latest. Funds will be remitted to Investec by MIM on the second business day after arriving in the MIM account. It can therefore take up to 3 business days for an ordered product to be set up and start earning interest.
Cash and deposits will be held by MIM and MAM in trust for you under FCA client money and asset rules.
You have the right to cancel your account without charge and without giving any reason, within 14 calendar days from the day of opening this savings account. For further information, please refer to clauses 1.18 and 1.19 of the MAM Terms and Conditions.
AER (Annual Equivalent Rate) illustrates what the interest rate would be if interest was paid and compounded once a year.
Interest will be paid gross. Gross interest does not take into account any tax payable.
Depending on your individual circumstances, you might have to pay tax on any interest you earn. If you have any specific tax questions you should seek professional tax advice.
Alternatively, further guidance can be found on the HMRC website, for further information please go to: https://www.gov.uk/apply-tax-free-interest-on-savings. Please note that your tax treatment may be subject to change in the future.
You are protected by FSCS up to a maximum of £85k across all of your eligible Investec accounts. Therefore, this maximum is the total protection for this deposit and any others you may hold with Investec directly. For all the information you need on FSCS please go to https://www.fscs.org.uk/
Placing funds via Raisin will impact how quickly FSCS can return your deposit to you if Investec Bank should fail. For all information you need on the FSCS repayment timelines please go to https://www.fscs.org.uk/what-we-cover/banks-building-societies/