Investec Bank has launched a dollar and euro 90-day notice savings account that will pay investors a...
Investec Bank has launched a dollar and euro 90-day notice savings account that will pay investors an interest rate 0.25% higher than the Fed and ECB base rates.
The dollar rate for Horizon is currently 3.25% gross (AER 3.28%) against a Fed rate of 3% while the EUR Horizon account is currently paying 2.25% gross (AER 2.26%) against an ECB rate of 2%. The offer is only available for investors who have a minimum of $50,000 or euro equivalent. Interest will be paid at the end of the 90 days.
Clients of the account can also undertake foreign exchange transactions. Investec will offer corporate currency exchange rates to private clients without commission. Client can make withdrawals in over eight currencies by electronic funds transfer and cheques can be issued in sterling, dollars or euros.
Anna Malcolm of Investec Bank (Channel Islands), said: "We know that today's clients are much more international in their outlook, so we have created the Investec Horizon Account to cater for US dollar and euro customers globally."
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