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Top Fixed Rate Savings Accounts: Investec is currently trading for the top year

Investec Bank has set up a Best Buy 1-year fixed rate savings account that pays 1.36% as short-term transactions for savers have begun to rise again.

  • Investec raises interest rates from 1.33% to 1.36%, becoming a market-leading one-year contract
  • The simplest access transaction offered by Cynergy Bank currently pays 0.7%
  • Notification accounts may provide savers with a perfect middle home between the two


Investec Bank has launched a one-year fixed rate savings transaction on Best Buy, which pays 1.36 percent.

This means that one year’s fixed rate transactions have risen again after many Challenger banks have lowered interest rates in the last few weeks.

Most notably, Gatehouse Bank reduced its market-leading one-year transactions from 1.51 to 1.3% in October, and Al Rayan Bank also reduced its transactions from 1.45 to 1.25% earlier this month.

A saver of £ 10,000 fixed at Investec guarantees nearly double the profits of the most expensive Easy Access transactions.

Investec 1-year contractHas risen from 1.33% to 1.36%, but requires a minimum deposit of £ 5,000 to get started and can hold up to £ 250,000.

Savers who keep a minimum of £ 5,000 hidden in this account can expect to repay interest of £ 68 a year later.

Investec provides protection for financial services compensation schemes and is fully approved by Prudential Regulatory Authority. This means that savers’ deposits are protected up to £ 85,000 and joint accounts up to £ 170,000.

Individual savers who can hide up to £ 85,000 protected by FSCS can expect to earn interest of £ 1,163 in a year.

What else is offered?

If you are looking for the best payment rate and are ready to have no access to your cash for 12 months, this may be for you.

Investec claims to currently serve 65,000 savers, and its name and height could give some savers even more confidence.

Easy access transactions with the best payments are offered by Cynergy Bank pays 0.7%However, this includes a bonus rate of 0.4% for the first year and then drops to 0.3%.

Best 1 and 2 year fixed rate accounts
Account type (minimum investment amount) 0% tax 20% tax 40% tax
1 year
Investec (£ 5,000) 1.36 1.09 0.82
Master Ben Bank (£ 500 +) 1.35 1.08 0.81
Zopa Bank (£ 1,000 +) 1.35 1.08 0.81
2 years
Zopa Bank (£ 1,000) 1.61 1.29 0.97
Gatehouse Bank (£ 1,000 +) (3) 1.60 1.28 0.96

Investec’s Saver Amendment guarantees nearly twice the return on Cynergy’s trading over a 12-month period, and Cynergy’s variable trading is subject to change at any time.

There are also notification accounts to consider for those who are a little nervous about the possibility of giving up access to money, but want to ensure a slightly higher rate than an easily accessible account.

Notification accounts are basically somewhere between easily accessible transactions and fixed-fee transactions.

This allows the saver to withdraw funds after the notification period (typically in the range of 30-120 days), but can provide the saver with a better return than can be achieved with an easily accessible account.

For example, Investec is now Notification account 32 days before paying 0.8%..

Familiar savers can take advantage of this particular transaction through the welcome bonus offered by the savings platform Raisin. This allows savers to increase their savings by £ 50 when opening and raising funds in the market for at least £ 10,000.

Raisins now offer 72 savings trading options to savers. Investec’s 32-day notice period contract Is 1.

Therefore, hiding £ 10,000 in this account via the Raisin Platform will effectively increase the rate from 0.8% to 1.3% for the first year after the welcome bonus is paid.

Ultimately, your decision depends on your situation and your willingness to be locked out of your cash for a given period of time.

It also depends on whether you are a saver who wants the flexibility to add money to your account at any time without restrictions.

It’s also worth pointing out that there are currently no savings accounts comparable to the recent inflation rate of 4.2%.

Rachel Springall, Moneyfacts’ personal financial institution, said:

“People who compare different savings accounts may understand that most savings accounts rarely allow you to deposit funds, unlike fixed bonds, which usually require a prepayment lump sum at the time of application. not.

“Cash interest rate levels may be a deterrent for some savers, but it is still worth considering setting up a savings account to save some money in case of an emergency.

“Interest rates can rise in the future, so savers are cautious and recommend using either easily accessible accounts, notification accounts, or short-term bonds rather than investing in the long run. increase.

“As the market continues to improve, it would be wise for consumers to carefully monitor the top-rate table and apply it quickly so that they do not remain disappointed.”

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Top Fixed Rate Savings Accounts: Investec is currently trading for the top year

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