Investec Lump Sum Market Leader - Are they Safe?

[jimlyons97]

I am about to invest €30,000 in a 12 month fixed term lump sum account and I see that Investec are currently the market leaders with a rate of 5.6%.

Does anyone know how safe Investec are?

Am I better off to go with a rate of 5.4% with EBS or First Active?

Here is an article about their new rate in the Indo. http://www.independent.ie/business/i...s-1414628.html

Here is a link to Investecs website:http://www.investec.com/Ireland/Weal...ement/Savings/

Thanks in anvance.

[ClubMan]

Investec are mentioned in this key topic:

Credit Ratings and Safety of Irish deposit takers FAQ

Their website doesn't seem to have any details about the one year fixed term account with the 5.6% gross CAR rate. At least I can't find any info.

[jimlyons97]

Thanks for your help ClubMan.

I noticed it wasn't on their website alright, I had to call them up to get confirmation of the rates quoted in the Independent article.

So would you be inclined to deal with them?

[ClubMan]

If they are covered by the UK FSA depositor protection scheme then the guarantees are better than the Irish scheme. I have no idea about them generally or their credit rating etc. I would check all of this out before committing to them myself.

[BallinaTipp]

Check their credit rating on the investor section of the Investec plc web site (parent company).

They dont seem to have S&P ratings but do have Fitch and others.