Sumary of Bank raises interest rates as savings deal takes a ‘top rate’ position:
- Investec increased the interest rate on its Fixed Rate Saver account yesterday, boosting the account from 1.33 percent to 1.36 percent AER.
- This rise meant the account was named a “Pick of the Week” for savings accounts by money comparison website Moneyfacts.
- The Fixed Rate Saver accountInvestec explained the Fixed Rate Saver provides simplicity and security for savers and pays an attractive rate of return over a one-year fixed term.
- It now pays an interest rate of 1.36 percent AER on balances of between £5,000-£250,000, with automatic repayment to a linked current account.
- Investec currently has two online savings accounts available and an Online Flexi Saver is also available for those who are looking for flexibility over higher interest rates.
- The Online Flexi Saver currently pays 0.58 percent on balances between £5,000 and £250,000. Savers will be able to instantly access their savings with this account and unlimited deposits and withdrawals can be made.
- uk, reviewed this increase and broke down how savers could benefit.
- NS&I cancels Premium Bonds prizes as savers unwittingly break rulesShe said: “Investec Bank plc has increased the rate paid on its one Year Fixed Rate Saver by 0.03 percent this week.