Investec to drop rates this Friday

[patrickjd]

A word to the wise, INVESTEC are dropping their deposits rates this Friday.
Expects cuts in the region of 0.5% on most products.

 

[Lightning]

Interesting.

Investec have stated in the press that they will offer the highest rate for 6 month and 1 year term deposits on the market.

They can#t drop by 0.50% and offer the best on the market. Anglo now offer 3.80% for a one year term deposit.

We will see what happens on Friday.

 

[oldtimer]

Yes, I enquired about the 4% one year fixed rate last Monday and they said all their rates will be reviewed on Friday.

 

[patrickjd]

Yes I put put some cash from my anglo Demand account (dropped from 3.6%to 3.1% this week) into a 1 year fixed term at 3.8%. with Anglo.
Good rate for 1 year. Can't see ECB rates increasing that much between now and then.

 

[OPTIMUM]

Has anybody experienced a maturity of an Investec fixed term account ? Do they send you back your funds or do they put the money in a low interest account ?

 

[camlin90]

They sent me a form with three options (1) roll over money for a year (2) roll over money for 6 months (3) put money in 30 day notice account at 2 point something percent interest.

Default is option 3 if you don't return the form.

If you want your money out presumably you need to write to them.

 

[Lightning]

The new rates have been published.

They are offering 3.50% for a 12 months term deposit and 3.25% for a 6 months term deposit.



Shame they are no longer the market leader for 1 year term deposits.

The best buys thread has been updated.

Best Buys - Highest Term Deposit Rates

6 Months - Investec - 3.25%
1 Year - Anglo Irish Bank - 3.80%
2 Years - Bank of Ireland - 3.44%
3 Years - An Post - 4.30%
5.5 Years - An Post - 4.70%