The Business Access50 Deposit Account from Investec has the benefit of paying great deposit rates, with the added flexibility of providing instant access to a 50% of the deposited amount, with the remaining 50% accessible on 32-days notice, all fee-free. The interest rate paid on the account is linked to the base rate, allowing it to increase if base rates rise. The minimum deposit is £250,000.
| 1 month LIBOR | 3 month LIBOR | Access50 | |
|---|---|---|---|
| 30/07/2010 | 0.57 % | 0.74 % | 1.30 % |
| 23/07/2010 | 0.57 % | 0.74 % | 1.30 % |
| 16/07/2010 | 0.57 % | 0.73 % | 1.30 % |
| 09/07/2010 | 0.57 % | 0.73 % | 1.30 % |
| 02/07/2010 | 0.57 % | 0.73 % | 1.30 % |
| 25/06/2010 | 0.57 % | 0.73 % | 1.30 % |
Benefits
- Great rate of 1.30% gross AER
- Instant access to 50% of your deposited funds
- Access to the remaining 50% of your fund on 32-days notice
- 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
Additional Product Details
- Instant access to greater than 50% of the deposited funds is subject to consent and will incur a penalty
- Interest is calculated each day based on the cleared balance in the account using the prevailing interest rate
- Interest rates will be reviewed after a relevant Central Bank interest rate decision and at the end of each month
- Interest on the account is accrued on a monthly basis
- A statement of the account will be issued monthly
- The minimum deposit is £250,000 or the currency equivalent
Withdrawals from the Account
- Instant access will be available on up to 50% of the cash amounts deposited. 32 day notice is required for withdrawals of 50% 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 30 July 2010 and will be reviewed monthly or after a relevant Central Bank interest rate decision. Interest is accrued on a monthly basis.
For business applicants only. Terms and Conditions apply. Telephone calls will be recorded for security, quality control and training purposes.
Neither BBA Enterprises Limited, nor the BBA LIBOR contributor banks, nor the designated distributor of BBA LIBOR from time to time, can be held liable for any irregularity or inaccuracy of BBA LIBOR. For details, click here.
