INVESTEC drops its rates - for some!

How innovative Investec is! At a time when all banks are raising interest rates, Investec has lowered them! As a pensioner I live on interest and naturally seek the highest return. Investec has been the market-leader in offering better returns up to now. - but that’s changed! I’ve been advised that my Prime Saver account rate will fall. That’s odd enough but it gets wierder still ——very wealthy people are penalised. Believe it or not those with “up to R25M” are offered a certain rate but those investing “more than R25M” are offered less! But here’s a question you won’t get answered; “If you’re reducing interest rates on savers are you also reducing them on mortgage bonds or other loans?” If you have an Investec loan it’s a question you ought to ask! “Shortchanged!”