New deposit account launched by Investec Bank |
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| News - Savings | |||||||||||||||
| Thursday, 12 November 2009 16:03 | |||||||||||||||
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Investec Bank (Channel Islands) has launched a new Fixed Reserve Account and Horizon Account. The details are as follows:Fixed Reserve Account It is a lock in guaranteed fixed interest rate for either one or two years. Issue 2 Currently paying 3.50% AER gross guaranteed for the life of the deposit Maturity: 2 years – matures on 30 November 2011 Issue 3 Interest rate of 3.00% AER gross guaranteed for the life of the deposit Maturity: 1 year - matures on 30 November 2010 This is a limited offer, so to secure this interest rate, funds will need to be deposited by 18 December 2009 Interest rate is fixed for the duration of the term Interest is paid monthly, giving you access to regular income Maturity date 30 November 2010 or 30 November 2011 Minimum deposit of £50,000 for individual investors Horizon account
The Investec Horizon Account has variable interest rates that will never fall below the central bank base rate for that currency: the UK Bank of England base rate for sterling, the US Federal Reserve rate for US dollars, and the European Central Bank base rate for euro. There is no fixed term for the investment: the funds remain invested in the account at the applicable rate and when making a withdrawal notice is given and 90 days later the funds are paid out.
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