Investec Launches 1-year FTD at 5% Rate on Insignis Cash Platform
by Insignis Cash Solutions in Announcements, News
Investec, which is one of the 40 partner banks on the Insignis Cash platform, has announced it is now offering customers a savings account paying 5% in an industry-wide trend.
With this launch, Investec is providing customers with a one-year fixed rate savings deal paying 5%, effectively giving Insignis Cash customers a new option to gaining higher returns on their hard-earned cash.
Insignis Cash Chairman, Paul Richards, said: “We are delighted to be offering our clients the Investec One-Year Fixed, which will deliver 5% return on cash deposits – comfortably above the base rate.”
“It is great to see banks passing down the interest rate hikes to customers, but as we have seen recently, customers needed to be quick to benefit from them.”
Fixed-term accounts have registered the highest inflows on record, as higher interest rates have led to enhanced savings returns from cash accounts.
Investec Bank is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority (Financial Services Register reference 172330).
Investec is a member of the Financial Service Compensation Scheme (FSCS). In the event that the bank goes into administration, then you may (if eligible) have a single claim under the FSCS limited to the deposit compensation limit of £85,000 per depositor (£170,000 for joint accounts) across all accounts held with Investec. For further information, please visit www.fscs.org.uk.
Investec Bank Ltd is registered in England and Wales (Registered no: 1969/004763/06), with a registered office at 30 Gresham Street, London, EC2V 7QN.
Nothing in this press release constitutes an invitation to engage in investment activity nor is it advice or a recommendation and professional advice should be taken before any course of action is pursued.