Key Features

• Interest rates are variable at 0.60% below Bank of England Base Rate (BoEBR) for balances up to £50,000 and 0.40% below BoEBR for funds in excess of £50,000.
• Interest rates are 3.90% (for up to £50,000) and 4.10% (for £50,001+)
• Minimum interest rate guarantee of 1.00% gross* /AER**
• The minimum amount to open a SIPP is £5,000
• The minimum deposit and balance to keep an account open is £250
• Funds will only be accepted from the Scheme Administrator
• No notice withdrawals
• Interest payable on 31 December
• Statements issued annually in January to the Scheme Administrator and if requested to the beneficiary
• This Deposit account has no voting rights

*We pay all savings interest gross, which means that no tax is deducted. Tax rules may change in future.

**AER stands for Annual Equivalent Rate and provides a means of comparing interest rates by showing what the rate would be if interest was paid and added once a year.