Available from 6 April 2010 the Investec Business Access25 Deposit Account has the benefit of paying higher interest rates than Investec's 1 month fixed deposit. It also has the added flexibility of fee-free instant access to a maximum of 25% of the deposited amount, with the remaining 75% accessible on 32 days notice. The interest rate paid on the account is linked to the base rate, allowing it to increase if base rates rise.

Benefits

• Interest rates higher than the Investec overnight, 1 month and Call Account rates at time of booking
• Instant access to a maximum of 25% of deposited funds
• Rates quoted are linked to base allowing the rate of interest to increase when base rates rise
• No annual fees or charges, including no charge for funds returned via CHAPS
• No maximum deposit

Considerations

• Instant access to greater than 25% of the deposited funds is subject to consent and will incur a penalty
• Minimum deposit of £250,000 or the currency equivalent

Rationale

A depositor wishes to maximise the interest return on their cash, but is reluctant to tie up all of their money for a fixed term. The depositor requires the flexibility to gain access to up to 25% of their cash with no penalties for withdrawals to meet any unexpected business requirements.

Interest and Statements

• Interest is calculated daily on the cleared balance in the account using the prevailing interest rate
• The initial interest rate on the account will be agreed with you and will be reviewed after a relevant Central Bank interest rate decision and at the end of each month. Your rate will be linked to relevant base rates
• Interest on the account is capitalised on a monthly basis
• A statement of the account will be issued monthly
• Account cannot be used to make 3rd party payments. All funds must be received from and returned to an account in the company's own name

Withdrawals from the Account

• Instant access will be available on up to 25% of the cash amounts deposited. 32 days notice is required for withdrawals of 75% or more of the aggregate cash deposits made
• Any withdrawals will first be applied against the available instant access portion of the account

*AER stands for the Annual Equivalent Rate and illustrates what the interest rate would be if interest was paid and compounded once a year. ‘Gross’ is the interest rate paid before the deduction of tax. Rates applicable to GBP only at 13 August 2010 and will be reviewed monthly or after a relevant Central Bank interest rate decision. Interest is accrued on a monthly basis.

Investec Bank plc is authorised and regulated by the Financial Services Authority, registered no. 172330.

Deposits held by Investec are subject to Investec's Deposit Terms in cases where the depositor does not also conduct investment business with Investec. Otherwise Investec deposits will be held subject to Investec's Terms of Business. This product sheet supplements and forms part of the Deposit Terms or Terms of Business as the case may be. In the event of a conflict this product sheet will prevail. Deposit Terms or Terms of Business will be provided to each party operating and account with Investec and additional copies are available on request.

For business applicants only. Investec Bank plc of 2 Gresham Street, London, EC2V 7QP.