As of 25 March 2010 we have withdrawn the High 5 Account and it is no longer available to new clients. For new clients we have a wide range of products that cater for your savings needs. Please click here to find out more.
Existing clients will not be affected by the withdrawal of the High 5 Account, however a maximum deposit limit of £100,000 will be introduced in the near future. Existing clients currently above the maximum deposit limit will not be affected. We will be writing to existing clients to notify them of this change in due course.
For more information on our products or if you have any queries, please contact us on the number above.
Investec High 5 Account: Overview
| Rate as at 1 September 2010 | |
| Interest rate | 2.79% 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 |
- For previous rates for the Investec High 5 Account, click on the Rate history tab
About us
- Visit our main website to find out more about us
- See all our deposit products
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
How we compare
| Moneyfacts' current highest savings rates as at 1 September 2010 | ||
| Financial Institution | Account | Interest rate |
| Stroud & Swindon Building Society | Stroud & Swindon 90 Day Notice | 2.90% |
| AA | AA Internet Extra Issue 3 | 2.80% |
| Investec Bank | High 5 Account | 2.79% |
| SAGA | Saga Internet Saver | 2.75% |
| SAGA | Saga Telephone Saver | 2.75% |
| Post Office | Online Saver | 2.75% |
The interest rates above are 'gross' rates with the exception of the Investec High 5 Account which is 'gross AER'.
What our clients say
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, 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 (30.9.09 survey)
- Experience on the phone
- Experience online
- Speed of account opening
- Ease of finding additional help
- Overall impression of service
Rate history for the Investec High 5 Account
- To see the rate history for the Investec High 5 Account, please visit our High 5 rate history page on the Investec website.
1 Rate correct as at 1 September 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.
