Investec's dollar account yield beats Feds fund rate

Investec Bank (Channel Islands) has raised the interest rate on its US dollar Horizon Account to 4% for balances of $50,000 or more, claiming this is the highest rate offered on such accounts in the offshore market. Anna Malcolm, spokesperson for Investec Bank, said the rate of interest on Horizon was raised from 3.7% to 3.8% on 30 August compared to the Federal Reserve rate of 3.5% at the time. When the Federal Reserve rate was increased from 3.5% to 3.75% on 20 September, Investec raised the interest rate on Horizon to 4%. Savers in the Horizon Account have to provide 90 days' notic...