Investec Private Bank’s High 5 Acount can now be opened online as well as via the post, and can also be managed through both these channels.

The account, launched in 2005, has so far not paid a rate below 3.03 per cent gross AER, with a peak rate of 6.58 per cent when the Bank of England base rate was 4.50 per cent. Its current rate is 3.37 per cent. 

Each week the Moneyfacts website takes the five highest savings rates in its best-buy tables, finds their mid-point and sets this as the rate for the Investec High 5 Account.

This year several wealth managers have launched savings accounts offering clients more attractive interest rates than those typically seen today as around the world rates hover close to zero. Investec's High 5 account requires a minimum investment of £25,000 (approx $42,000) and has a three month notice period.