Our High 5 account pays the average of the 5 highest interest rates on the market. No more shopping around or moving your money – just one top-5 rate for everyone, always.
- Tracks the 5 highest rates on the market2
- Interest rate adjusted weekly
- No introductory bonuses - one market-leading rate for everyone
- £25,000 minimum deposit. 3 months' notice for withdrawals
OR
Investec High 5 Account: Overview
| Rate as at 10 March 2010 | |
| Interest rate | 3.16% gross AER |
| Interest paid | Monthly or annually |
| Tax status | Interest is paid net or gross, subject to the account holder's tax status, and may be subject to change |
| Minimum deposit | £25,000 |
| Conditions for bonus payment | Not applicable |
| Withdrawal | 3 months' notice required to make a withdrawal |
| Access | Access to account information via online banking, post, fax and phone |
Some more information on the Investec High 5 Account
About us
- Visit our main website to find out more about us
- See all our deposit products
Please note: as of 22 March 2010, when an account is opened we will no longer pay a referral fee to new clients and clients making a referral, as this campaign has now come to an end.
Looking ahead our focus is going to be about ensuring we deliver the best possible experience to our clients. We hope your experience with us continues to be a positive one and that you will still recommend us to your friends and family.
Downloads
- Terms & conditions and charges for the Investec High 5 Account
- Factsheet for the Investec High 5 Account
High 5 referral scheme
Introduce a friend before 22 March 2010 and we'll credit both of your accounts with £50.
How it works
Calculating the rate
Each week, we use the average of the 5 highest paying savings accounts2, as published in the best-buy tables on the independent Moneyfacts website, to calculate our rate. Unlike other averaging accounts, we look at all the highest paying accounts, including instant and notice accounts, internet-only accounts, monthly interest accounts, those with introductory bonuses and over-50s accounts. We re-calculate the rate each week.
Paying your interest
Interest on your account is calculated daily and paid either monthly or annually, into an account of your choice, without charge*.
* Charges do not apply for BACS transfers to UK bank accounts
Keeping a minimum balance
You must maintain a minimum balance of £25,000 to earn interest.
Paying in funds
Deposits can be made by cheque, BACS transfer or CHAPS transfer. For deposits in non-Sterling currencies, deposits can be made by cheque or electronic transfer provided we accept deposits in that currency. Full details and clearing times are contained in section 8 of our terms and conditions.
Withdrawing funds
When you make a withdrawal, we will send your money to any UK account free of charge*. You need to give 3 months' notice to make a withdrawal.
* Charges do not apply for BACS transfers to UK bank accounts
What the press are saying
"I'm guessing most of you would prefer not to have to shift your money around all the time, trying to get the absolute best deal. If so, and you have £25,000 to invest, you should head straight to the Investec High 5 account, a deal I've raved about for absolutely ages now. This nifty little account pays the average of the top five savings accounts, so while you never get the absolute best deal, you are guaranteed to get a great rate at all times."
John Fitzsimons
15 November 2009 lovemoney
"The best notice account on the market at present is the High 5 account from private bank Investec, with a variable rate of 3.37%. This has risen from 3.1% in July, despite a static Bank of England base rate of 0.5% since March, with a notice period of three months."
Alan O'Sullivan
20 October 2009, thisismoney.co.uk
“Unless you want to spend hours every month moving your money around, it has to be the Investec High 5 account (which offers interest equal to the average paid out by the five top accounts on the market and updates its rates accordingly every week).”
Merryn Somerset-Webb
14 August 2009, Financial Times
“An even better account is the Investec High 5 account. Unlike Nationwide, its rate is based on the five highest savings rates according to Moneyfacts. No extra bonus rates, just a simple promise that your rate will be among the best buys.”
Szu Ping Chan
10 August 2009, lovemoney.com
How we compare
A market-leading rate
The Investec High 5 Account was the first of its kind in the UK. Other savings accounts offer attractive rates to new customers but often drop their rates after an introductory period. The High 5 account will always have one of the leading rates on the market.
| Moneyfacts' current highest savings rates as at 10 March 2010 | ||
| Financial Institution | Account | Interest rate |
| FirstSave | 90 Day Notice | 3.25% |
| Secure Trust Bank | 120 Day Notice Issue 1 | 3.21% |
| Stroud & Swindon Building Society | 50 Plus Notice | 3.20% |
| Investec Bank | High 5 Account | 3.16% |
| Turkish Bank (UK) | 60 Day Notice | 3.12% |
| Secure Trust Bank | 90 Day Notice Issue 1 | 3.00% |
The interest rates above are 'gross' rates with the exception of the Investec High 5 Account which is 'gross AER'.
The Investec High 5 Account's rate history
- See the rate history for the Investec High 5 Account, and how this compares to other leading savings accounts
lovemoney's video review
Watch lovemoney.com's video review of the Investec High 5 Account: do they love it or loathe it...?
Follow us on Twitter
Find out what's happening in our world, and get in touch with us: twitter.com/lindamcbain
What our clients say
Don't take our word for it
Since we launched the High 5 account in 2003, it’s proved incredibly popular with experts and clients alike. Below are some of the reasons our clients chose to invest with us, and some of the benefits of the High 5 account, in their own words.
And on the right, you can see the results from our 30 September client experience survey.
What people are saying
G_M, moneysavingexpert.com“Icesave was not covered by the UK £50K guarantee scheme (£100K for joint accounts). Investec Bank IS … I checked extensively before opening 6 months ago.”
Kittie, moneysavingexpert.com“I want to praise this professional bank. What good service and what a quick turnaround for my application. They sent a professional pack of information and my own personal contact at the bank.”
Client experience survey, 1 May 2009"A bank's security, and ensuring my account is safe is very important, and I believe that Investec have got this right, along with keeping with as good as possible rate of interest."
Client experience survey, 15 June 2009"Not having to search around for best rates all the time is wonderful."
Client experience survey, 16 June 2009"Excellent, all round service to date compared with other banks I have dealt with in the past..."
How our clients rate us
- Experience on the phone
- Experience online
- Speed of account opening
- Ease of finding additional help
- Overall impression of service
Apply in 5 minutes
Apply online. The whole process should take only 5 minutes. You can also save your application and return to complete it later.
We’ll process your application and get in touch within 5 working days.
Start saving. Once your account is open you can transfer money into it straight away.
> If you are an IFA and wish to open an Investec High 5 Account on behalf of a client, please visit our downloads page
1 Rate correct as at 10 March 2010. 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 interest rate paid before the deduction of tax. Interest rates are variable and subject to change.
2 Moneyfacts Group plc of Moneyfacts House. 66-70 Thorpe Road, Norwich, Norfolk, NRI IBJ is entirely an independent and impartial source of information and their selection charts can be seen throughout the UK national press and media. The rate is set weekly based on the average of the top 5 savings rates published on the Moneyfacts website www.moneyfacts.co.uk across the categories of no notice accounts, notice accounts, internet accounts, monthly interest accounts, accounts for the over 50s and accounts with an introductory bonus.
Investec Bank plc (Reg. no. 489604) is authorised and regulated by the Financial Services Authority and is a member of the London Stock Exchange. Registered Office: 2 Gresham Street, London EC2V 7QP. For your security, telephone calls to Investec Bank plc may be recorded. By telephoning the above phone number, your call will be routed to Investec Limited in South Africa. Similarly, data provided to the above e-mail address will be sent to Investec Limited in South Africa. Data will not be disclosed outside the Investec group of companies and will be treated with full regard to the United Kingdom's Data Protection legislation. Please refer to Investec Bank plc's privacy policy for further information.
You may cancel the account by writing to us within fourteen days of the date of our notification to you confirming that the account has been opened, without giving any reason and without paying any charges.
Deposits can be made by cheque, BACS transfer or CHAPS transfer. For deposits in non-Sterling currencies, deposits can be made by cheque or electronic transfer provided we accept deposits in that currency. Full details and clearing times are contained in paragraph 8 of our terms and conditions.
