Can anyone holding a 90 day with Investec confirm either way?
It’s clear that you can’t pay in more than 250k but I’m interested in this line re. interest:
You’ll earn 4.54% gross p.a.^ on your entire balance when it’s between £5,000.00-£250,000.00.
That suggests to me that once your balance hits higher than 250k due to added interest, further interest is only paid on the 250k.
I asked Investec, but they just said ‘Yes, that’s unclear, but interest is paid on the full balance, even if over 250k’.
I’m not convinced by that: Even though it may well indeed just be lazy website copy, I don’t want to commit in order just to find out…
For comparison, this is clear site copy (Oxbury):
Interest will only accrue on balances above £20,000 and up to £500,000
• If your balance falls below £20,000 after account opening, you will not receive interest on
the balance
• You will only receive interest on balances above £500,000, where those balances have
resulted from interest being accrued to the account