Investec Lump Sum Market Leader - Are they Safe?

Discussion in 'Deposits' started by jimlyons97, Jun 20, 2008.

  1. jimlyons97

    jimlyons97 Guest

    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/irish/ebs-axes-new-rate-for-savers-after-days-1414628.html

    Here is a link to Investecs website:http://www.investec.com/Ireland/Wealth+management/Savings/

    Thanks in anvance.
     
  2. ClubMan

    ClubMan Frequent Poster

    Posts:
    43,920
  3. jimlyons97

    jimlyons97 Guest

    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?
     
  4. ClubMan

    ClubMan Frequent Poster

    Posts:
    43,920
    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.
     
  5. BallinaTipp

    BallinaTipp New Member

    Posts:
    8
    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.