Interest Rates
The IPS SIPP uses Barclays Bank as the deposit holder - the vehicle for receiving, paying and holding funds.
Each SIPP has a segregated client account with Barclays Bank that is operated by us and each SIPP is recorded as the IPS SIPP/ (name of individual) to reflect the product name.
The IPS SIPP offers all clients the following:
- Transfer of funds made via a high street clearing bank account ensuring that we can move funds as quickly as the banking system allows.
- One of the best rates of interest available for funds held on deposit.
- Our rates are normally linked to the Barclays Bank base rate. For deposits up to £49,999 we pay 0.6% below the base rate, and above £50,000 we pay 0.4% below the base rate.
- Whilst we are not contractually obliged to do so, we continue to pay a minimum level of interest on balances under £50,000. Please note that this is paid on a discretionary basis in the interests of treating customers fairly and should base rate fall further, these rates will be reviewed with a minimum of zero.
| Balance | Interest Rate |
|---|---|
| £0 - £49,999 | 0.1% |
| £50,000 + | 0.1% |