Direct Reserve Account
Tiered interest rates with no fixed term and 32 days notice.
Our Direct Reserve Account features a system of tiered variable interest rates, meaning that the higher your balance, the greater the interest you earn.
As there’s no fixed term for the investment, your funds will stay invested at the applicable rate until you choose to withdraw them. Any funds in the account will then be paid out after the required 32 day notice period.
- 32 days notice
- Tiered interest rates based on account balance
- Interest is calculated daily and credited quarterly
- Available in sterling, euro, US dollar, Australian dollar and South African rand
- Minimum balance is £50,000, USD$50,000, €50,000, AUD$100,000 and ZAR500,000
This account is offered by Investec Bank (Channel Islands) Limited.
To qualify for this Account the minimum balance must be adhered to and you must have an overall banking relationship with the Investec Group of at least £100,000 per individual.
GBP Direct Reserve Account rates as at 1 May 2012
| From | To | Rate (AER*) | Gross rate** |
| £50,000 | £99,999 | 0.75% | 0.75% |
| £100,000 | £249,999 | 0.88% | 0.875% |
| £250,000 | Plus | 1.00% | 1.00% |
EUR Direct Reserve Account rates as at 1 May 2012
| From | To | Rate (AER*) | Gross rate** |
| €50,000 | €74,999 | 0.25% | 0.25% |
| €75,000 | €149,999 | 0.50% | 0.50% |
| €150,000 | €374,999 | 0.88% | 0.875% |
| €375,000 | Plus | 1.00% | 1.00% |
USD Direct Reserve Account rates as at 1 May 2012
| From | To | Rate (AER*) | Gross rate** |
| $50,000 | $74,999 | 0.10% | 0.10% |
| $75,000 | $149,999 | 0.50% | 0.50% |
| $150,000 | $374,999 | 0.63% | 0.625% |
| $375,000 | Plus | 0.75% | 0.75% |
AUD Direct Reserve Account rates as at 1 May 2012
| From | To | Rate (AER*) | Gross rate** |
| A$100,000 | Plus | 3.29% | 3.25% |
ZAR Direct Reserve Account rates as at 1 May 2012
| From | To | Rate (AER*) | Gross rate** |
|---|---|---|---|
| R500,000 | Plus | 4.06% | 4.00% |
How to apply
Offshore Banking
- Visit our account opening page for application forms or to send us an enquiry
* 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 contractual interest rate paid before the deduction of any tax.
** Interest is paid gross, without the deduction of tax. In accordance with the EU Savings Tax Directive, automatic exchange of information applies where individuals are resident in the European Union.
Please see our Special Terms and Conditions for full account details. Interest rates may vary unless otherwise stated. Interest is calculated daily from the date of receipt of cleared funds. (See our General Terms and Conditions.) All local and non-local individual private client deposit accounts are held in Guernsey. Investec Bank (Channel Islands) Limited is a participant in the Guernsey Banking Deposit Compensation Scheme. The Scheme offers protection for "qualifying deposits" up to £50,000, subject to certain limitations. The maximum total compensation is capped at £100,000,000 in any five year period. Full details are available on the Scheme's website www.dcs.gg or on request. Deposits made with the Bank are not covered by the Financial Services Compensation Scheme under the UK Financial Services & Markets Act 2000.
Investec Bank (Channel Islands) Limited is part of Investec Specialist Bank and a subsidiary of Investec Bank Plc. This document is issued on behalf of Investec Bank (Channel Islands) Limited which is licensed by the Guernsey Financial Services Commission. Registered Address: Glategny Court, Glategny Esplanade, St Peter Port, Guernsey, GY1 1WR. Registered Number: 5845. The Jersey Branch of Investec Bank (Channel Islands) Limited is regulated by the Jersey Financial Services Commission to carry on deposit taking business under the Banking Business (Jersey) Law 1991, as amended. The Jersey Branch registered address is One The Esplanade, St Helier, Jersey, JE2 3QA. Copies of the Banks audited accounts are available on request. Telephone calls are recorded.
To find out more contact:
Kay Parnwell
Address:
Work
Glategny Court
Glategny Esplanade
St Peter Port, Guernsey
GY1 1WR
Channel Islands
Important Information
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Interest rates for savings accounts
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Interest rates for current accounts
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Schedule of Charges
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Terms and Conditions
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Safety and Security
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EU Savings Tax Directive
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Meet the Team
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