Unfortunately, this deal has expired 2 minutes ago.
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Posted 27 September 2022

3.90% AER 1 Year Fixed Rate Saver on Deposits from £5000 to £250,000 (Existing UK Current Account Required) @ Investec

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Shared by oid
Joined in 2020
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About this deal

This deal is expired. Here are some options that might interest you:

Fixed rate 1 year bond from Investec for balances between £5,000-£250,000.

3.90% AER* on balances up to £250,000
One-year fixed term with no withdrawals
Automatic repayment to your linked account

Simple

Apply in minutes.
Deposit your money.
Start saving seamlessly.
It’s just a few simple questions to open your account and then you can make as many deposits as you like for the first seven days up to £250,000. All you’ll need to get started is a smartphone, bank account and a passport or photocard driving licence from any country we currently support.
Effortless

One year, one guaranteed return.
Once you've funded your account, we’ll take care of the rest. You won’t be able to access your savings until we pay your balance and interest into your linked account automatically at the end of your fixed term.
Transparent

We don’t believe in account fees, hidden charges or interest rate penalties. We’ll always be upfront with you. And if you need us, you can get in touch with the team via live chat.
Secure

At Investec, we’ve spent 25 years growing our clients’ savings. We’ve built the products, won the awards, and we’re currently helping 65,000 people just like you reach their savings goals
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71 Comments

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  1. Avatar
    Surely some people pay tax on their interest? With me just going over the 1000 pounds would it be worth trying to keep under it or always better to save more and earn more?

    I earn over 18,500 but I'm not the higher tax bracket... I've read a few sites but don't really understand them. If anyone who knows what they are talking about and has any spare time to help this simpleton feel free to drop me a pm.
    Avatar
    I believe everyone gets £1000 to my understanding.
    Unless you are a higher rate tax payer.
    As for tax on interest it depends on how much savings and the rate.
    Lets go with 50k at 4.32% for 2 years Hampshire Trust Bank2 Year Bond (Issue 72).

    • £50,000 invested in this account would earn £4,413.31 interest by the end of the term
    • Year one interest £2160 - £1000 tax free, £1160 taxable-20% tax £232. Leaves £928.
    • So after tax £1928.
    • Year 2, £2253.31 - £1000 tax free, £1253.31 taxable-20% tax, £250.66. Leaves £2002.65.
    • Interest after tax for two years £3930.65.
    • I would not mess around trying to save tax, get the best rate and pay the tax.
  2. Avatar
    Yorkshire Building Society have a 'Rainy Day Account Issue 2' account that pays 2.5% on the first 5K, then 2% on 5K+
    It is limited to 2 withdrawls per year, but is a variable rate, so should keep up with the coming raises.
    Took me 5 mins to open on line, no id docs etc required. On-line and app managed.
    48311883-t8k6I.jpg
  3. Avatar
    With these rates creeping up just remember once you hit £1k of interest earned or £500 as a higher rate tax payer in a single year then you start to pay more tax as they will change your code, so if your going to exceed it worth considering an ISA if the numbers add up (edited)
  4. Avatar
    Depends on your tax code, and what you're earning. My understanding is if you earn under the personal allowance £12,570 you may be entitled to an extra 5K in interest tax free, as well as the 1K allowance, as long as it does not take you over £18,570 total. If you earn over £17,570 you are only entitled to 1K of tax free interest. If you earned say £15,570 I think you would be eligable for 3K tax free interest.
    It varies depending on your circumstances, and I'm not a tax expert.
    I suggest you look at the Money Savings Expert adcice on this link, and do your own research.
  5. Avatar
    Hold...
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    48315170-C84I5.jpg
  6. Avatar
    Good deal at the moment but rates are almost certain to almost double very soon. Personally I wouldnt sign up to a 1 year fix at the moment.
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    Where would you place your money now? I have 30k I’m only earning 1.5% interest on 
  7. Avatar
    Wait till 6% rate come.
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    It'll happen maybe but not.immediately, wait six months earning 1% to then earn 6%, is it worth it??
  8. Avatar
    It's a 👎 from me
  9. Avatar
    Why would you fix at a rate this low? The UK economy is stuffed. Hold out for 5 and 6% deals in the next month or two.
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    Agree
  10. Avatar
    The advice is to hold your horses.
  11. Avatar
    Many asking if there are better rates out there. Did anyone give Nexo a try? As far as fiat and stable coins are concerned they have GBP rates up to 6% and also stable coins up to 10%. Obviously this i's not covered by fscs but they seem to be a legitimate finantial institution.
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    All works till the rug pull. I get you want to shill your project but remind me how did Tera turn out?
  12. Avatar
    What’s he best instant access options right now, I hate to admit I’m a little confused 
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    Santander 1.91%.

    There's another one slighter better, name escapes me but you can withdraw a maximum of twice a year which is not exactly easy access.
  13. Avatar
    Is this the best 1 year fix right now?

    any ideas if it’ll be beaten by Friday
    Avatar
    Author
    Yes it’s the best rate at this moment!
  14. Avatar
    Looking at gilts, I'd say within a week we might get 4.5% rate for one year fixed. But the markets are so volatile at the moment.
  15. Avatar
    Who do you think the 4.5% will be with, I’m getting 1.5% atm with Chase on £60000 but prepared to move it if I was to get 4.5% (edited)
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    Author
    Not sure when we will see 4.5%. On a fixed term one year bond probably soon but it’s all guess work. on an easy access account that rate is a long way off. (edited)
  16. Avatar
    Thieves. No way.
  17. Avatar
    If I was to put 25k in at 3.9% that would get me £975 in interest. Does that mean I'm only allowed to make another £25 in interest before I start having to pay tax.. I've read that they change your tax code? Is this true? If not how is it paid.

    Also I probably have another 15k in a low interest account which I presume would take me over the £1000 tax. I was looking at putting some into another short term saver with easy access.. Any help would be appreciated, this is all new to me
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    Tax code changes but then at the end of the tax year, they do a final reconciliation. Depending on the outcome, you might need to pay more tax or get a tax rebate.
  18. Avatar
    Al Ryan instant access up to 2.35% today, they seem to be following and matching the next best, so saving with them saves the constant moving chasing
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