SIPP Interest Rates
During these uncertain economic times, we wanted to ensure that our SIPP customers have access to a range of cash options with competitive interest rates.
Our interest rates on cash deposits within the SIPP start at 0.15% gross.
Cash held within the BrilliantWithMoney SIPP
If you hold cash within your BrilliantWithMoney SIPP, here are the interest rates you will receive:
| Cash Balance (£) | Gross % |
| 0 – 49,000 | 0.15 |
| 50,000 – 149,000 | 0.35 |
| 150,000 – 249,000 | 0.50 |
| 250,000 + | 0.75 |
Interest rates last amended 15th January 2010.
These interest rates are set independently of Bank of England base rates. Investment Funds Direct Limited reserves the right to amend these rates at any time. Interest is not applicable to non-GBP balances.
Fixed Term Deposits
Our fixed term deposits offer access to money market rates of interest for a set period of time. The BrilliantWithMoney SIPP currently offers access to Scottish Widows Bank Term Deposits, Bank of Ireland and the Cater Allen Private Bank Term Deposit, offering competitive rates of interest on deposits over £50,000 held for a minimum 12-month period.
Cash Management
The BrilliantWithMoney SIPP offers a unique Cash Management solution, for investors who want to keep a large amount of their SIPP fund in cash but who do not want to worry about financial security or ensuring interest rates remain competitive.
The Cash Management solution automatically deposits cash on a wholesale basis with up to eight banks that are all rated ‘A’ or higher by Standard & Poors, the independent ratings agency. These banks are currently HSBC, Lloyds, Barclays, Abbey, RBS, HBOS, Northern Rock and Nationwide.
The Financial Services Compensation Scheme (FSCS) guarantees £50,000 per bank per client. This means that your cash holding is protected under the FSCS by up to £400,000. Please note, this amount is reduced by any deposit or loan you already hold in these institutions.
