Investec High5 account?

newfoundglory

This always seems to paying top rates of interest:

http://www.investec.com/UnitedKingdom/PrivateBank/BankingandTreasuryServices/Personal/Products/High5/

Is this a good product? Does anyone have one/know what the catches are? (apart from the £25k min balance)

Rhino666

I had one of these for a couple of years and it was a good product. The only catch - withdrawals are difficult.

With the current climate of interest rate changes this account is very tempting compared with say a fixed rate bond.

I would certainly consider them again.

Geoffo_M

Good product. Investec are efficient and good people to deal with. No withdrawals in first year after which you have to fill in a form to get cash out. You can view your account online and make deposits. If you've cash (£25k+) that you don't want to touch regularly, this is a good home.

Steve_xx

Icesave and ICICI Bank are still better than this, and without the 25k minimum balance restriction.

StevieJ

Steve_xx wrote: »

Icesave and ICICI Bank are still better than this, and without the 25k minimum balance restriction.

I agree, I can't see the point with the restrictions on retrieving your cash.

Rhino666

Took me quite a lot of thinking to work out whether the Investec account made sense or not - I think it may be a bit too clever for its own good. It certainly can beat fixed rate bonds in uncertain times and I did not compare it with existing top instant access rates because those tended to change like the wind.

The Investec rate is likely to overtake ICICI and Icesave in the very near future as new rates reflecting the recent interest rate rise come in. Investecs rate is revised on a weekly basis.....see link below

http://www.investec.com/UnitedKingdom/PrivateBank/BankingandTreasuryServices/Personal/Products/High5/

The bugbear is withdrawals which makes a decision over whether to use investec or invest in fixed rate bonds hard. Over the last year or so Investec would have been the wiser choice !!

garagemc

Guarenteed growth bond from Halifax 5.08% net. minimum 5k and 1 year period.

newfoundglory

Thanks for the info guys. I like the fact I wont have to keep switching accounts with this, since it follows the top rates.

ryoko

I am thinking of opening a High 5 account, but can't find any recent threads.
Does anyone still have one of these, or just opened one of these, if so any comments?