Investec’s fixed term deposit savings accounts are designed to offer investors the opportunity to save for a longer term while earning competitive interest rates. These accounts require a minimum deposit of R100,000 and offer fixed term options ranging from one month to five years, providing investors with the flexibility to choose an investment period that aligns with their financial goals and objectives.
Investec’s fixed deposit rates are structured based on the investment amount, term length, and type of fixed deposit account chosen. These rates offer investors the potential to earn attractive returns on their savings while benefiting from capital guarantees and stability. Below are the updated fixed deposit rates from Investec as of March 19, 2024:
Fixed Deposits Over R1,000,000
Term | Nominal Interest Rate* | Effective Interest Rate |
---|---|---|
12 Months | 8.64% | 8.99% |
9 Months | 8.48% | 8.72% |
6 Months | 8.33% | 8.48% |
5 Months | 8.26% | 8.37% |
4 Months | 8.21% | 8.29% |
3 Months | 8.12% | 8.18% |
2 Months | 8.07% | 8.10% |
1 Month | 8.08% | 8.08% |
Fixed Deposits R250,000 – R1,000,000
Term | Nominal Interest Rate* | Effective Interest Rate |
---|---|---|
12 Months | 8.64% | 8.99% |
9 Months | 8.23% | 8.46% |
6 Months | 8.08% | 8.22% |
5 Months | 8.01% | 8.12% |
4 Months | 7.96% | 8.04% |
3 Months | 7.87% | 7.92% |
2 Months | 7.82% | 7.85% |
1 Month | 7.83% | 7.83% |
Fixed Deposits R100,000 – R250,000
Term | Nominal Interest Rate* | Effective Interest Rate |
---|---|---|
12 Months | 8.56% | 8.90% |
9 Months | 8.03% | 8.25% |
6 Months | 7.88% | 8.01% |
5 Months | 7.81% | 7.91% |
4 Months | 7.76% | 7.84% |
3 Months | 7.67% | 7.72% |
2 Months | 7.62% | 7.64% |
1 Month | 7.68% | 7.68% |
Prime Linked Rate Fixed Deposits
Investec also offers prime linked rate fixed deposits, providing investors with the opportunity to earn enhanced returns based on prevailing market conditions. The updated prime linked rate fixed deposit rates are as follows:
Prime Linked Rate Fixed Deposits Over R1,000,000
Term | Nominal Interest Rate* | Effective Interest Rate |
---|---|---|
12 Months | 9.28% | 9.69% |
9 Months | 8.87% | 9.14% |
6 Months | 8.61% | 8.77% |
3 Months | 8.35% | 8.41% |
Prime Linked Rate Fixed Deposits R500,000 – R1,000,000
Term | Nominal Interest Rate* | Effective Interest Rate |
---|---|---|
12 Months | 9.28% | 9.69% |
9 Months | 8.82% | 9.08% |
6 Months | 8.56% | 8.71% |
3 Months | 8.30% | 8.36% |
Prime Linked Rate Fixed Deposits R100,000 – R500,000
Term | Nominal Interest Rate* | Effective Interest Rate |
---|---|---|
12 Months | 9.28% | 9.69% |
9 Months | 8.77% | 9.03% |
6 Months | 8.51% | 8.66% |
3 Months | 8.25% | 8.31% |
Tax-Free Fixed Rate Deposits
For investors seeking tax-free investment options, Investec offers tax-free fixed rate deposits with competitive rates. The updated tax-free fixed rate deposit rate is as follows:
Tax-Free Fixed Rate Deposits (12 Months)
Term | Nominal Interest Rate* | Effective Interest Rate |
---|---|---|
12 Months | 8.84% | 9.21% |
Investec Fixed Term Deposit Specials for Individuals
Investec also offers special fixed term deposit rates for individuals based on their age and the chosen investment period. Below are the details of the fixed deposit specials:
Product Specials | Nominal Interest Rate* | Period | Effective Interest Rate |
---|---|---|---|
60-month Fixed Deposits | |||
Individuals over 55 years | 9.64% | 12.32% | |
Individuals under 55 years | 9.49% | 12.08% | |
24-month Fixed Deposits | |||
Individuals over 55 years | 8.94% | 9.75% | |
Individuals under 55 years | 8.79% | 9.57% | |
12-month Fixed Deposits | |||
Individuals over 55 years | 9.15% | 9.54% | |
Individuals under 55 years | 9.05% | 9.43% | |
6-month Fixed Deposits | |||
Individuals over 55 years | 8.58% | 8.73% | |
Individuals under 55 years | 8.43% | 8.58% |
Maximizing Returns with Investec Fixed Term Deposit Savings Accounts
Investing in a fixed term deposit savings account with Investec can be a strategic move to maximize returns while ensuring capital preservation and stability. By choosing the right investment period and taking advantage of competitive interest rates, investors can optimize their savings growth over time.
Benefits of Investing in Investec Fixed Term Deposit Savings Accounts
Pros of Investec Fixed Deposit Account:
Cons of Investec Fixed Deposit Account:
Conclusion
Investec’s fixed term deposit savings accounts offer a compelling opportunity for investors to achieve stability, security, and competitive returns on their savings. With guaranteed returns, flexible investment options, and special rates for individuals, these accounts are well-suited for long-term wealth accumulation and financial planning. By leveraging Investec’s expertise and offerings, investors can maximize their savings growth and achieve their financial goals with confidence.
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