Interest on Cash
01/11/2023
Killik & Co is a well-established and award-winning wealth manager, whose mission is to help families save, plan and invest for their futures.
We work closely with our clients to structure their wealth in such a way as to identify funds available for long-term investing and minimise cash holdings in order to mitigate inflation risk. To help clients with mid-term or foreseeable expenses we offer a comprehensive range of bond- and gilt-based investment solutions.
Capital at risk.
- UK Fixed Income Service - Our UK Fixed Income Investment Strategy enables clients to invest directly into a portfolio of carefully selected bonds, mostly of short duration, allowing complete visibility over each holding. To find out more, call us or speak to your Adviser.
- Government Bonds (Gilts) - Short Dated Government Bonds, or Gilts, are considered one of the safest investments and carefully selected can be very tax efficient. Unlike bank deposits, which are protected up to £85,000 by the FSCS, Gilts are fully guaranteed by the UK Government. For current rates and to find out more call us or speak to your Adviser. We shortly intend to offer a Short Dated Gilt Service please ask - your Adviser for details.
- Cash Management Platforms - For clients seeking higher returns from cash, we provide access to a cash management platform. Clients can identify the best interest rates available and manage their money across multiple accounts. These rates are available for cash held in tax wrappers (including SIPPs but excluding ISAs).To find out more, call us or speak to your Adviser.
Schedule of interest rates
See the table below outlining the interest paid on the following accounts General Investment Accounts, SIPP and ISA from 1st November 2023.
Should clients need monies immediately or wish to take advantage of market moves and invest swiftly, client cash is held in the form of instant access accounts. Because instant access accounts pay lower interest rates than more restrictive regular savings accounts or term deposit accounts, we actively work with all our clients to ensure that cash holdings are appropriate to their needs and signpost available alternatives regularly and proactively in a fair, clear and balanced manner.
To ensure that we provide good value for money for client across all our fees, rates and charges we run a comprehensive client feedback programme and regularly review our position relative to the market. We regularly review our interest rates and these were last increased in November 2023.
AER stands for Annual Equivalent Rate and illustrates what the interest rate would be if interest was paid and compounded each year. The AER calculation does not take account of amounts which are retained in accordance with point 1.13 of the Platform Securities Terms and Conditions.
The below rates apply to Sterling Deposits only.
|
CASH BALANCE |
AER* |
|---|---|
|
£1 to £99,999 |
1.50% |
|
£100,000 to £249,999 |
2% |
|
£250,000 and over |
2.5% |
These rates are tiered and banded.
Interest of 1% paid on USD balances over $100k.
Payment terms
Interest, calculated on a daily basis, will be credited gross every six months, but sums under £1 will not be distributed. Where payment is made to you by BACS, interest on the sum concerned will be credited up to the date the payment is initiated.
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