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Information on cash deposit

Old Mutual Wealth's platform cash deposit facility

If you hold money in the cash deposit facility within your ISA or Collective Investment Account, interest will be calculated and paid daily on the cash balance within your account at a rate set by us. The rate will remain in force until the next update. We seek to earn the best achievable rate, and do not seek to profit from client money held in cash deposit. The interest rate is set based upon expected interest which means we may earn marginally more or less than the interest we pay.

The rate of interest from 6 July 2020 is 0.00% a year before tax.

Please refer to the product literature on our literature library for an explanation of how tax deductions apply to the cash deposit facility.

Historical rates of interest

31 March 2020 to 5 July 2020: 0.05% a year before tax

17 March 2020 to 30 March 2020: 0.10% a year before tax

24 February 2020 to 16 March 2020: 0.24% a year before tax

13 August 2018 to 23 February 2020: 0.45% a year before tax

18 December 2017 to 12 August 2018: 0.32% a year before tax

14 November 2017 to 17 December 2017: 0.26% a year before tax

21 September 2016 to 13 November 2017: 0.14% a year before tax

12 August 2016 to 20th September 2016: 0.20% a year before tax

5 April 2015 to 11 August 2016: 0.35% a year before tax

1 May 2014 to 5 April 2015: 0.40% a year before tax

6 April 2014 to 30 April 2014: 0.35% a year before tax

April 2009 to 5 April 2014: 0.10% a year before tax

March 2009: 0.60% a year before tax

February 2009: 1.10% a year before tax

January 2009: 1.60% a year before tax

Old Mutual Wealth's platform cash deposit facility as at 1st of the month

Bank/Building society % holdings of facility
National Westminster Bank PLC 15%
Barclays Bank PLC 17%
Lloyds Bank PLC 17%
HSBC 17%
Bank of New York Mellon 17%
Standard Chartered Bank 17%

If your investments have recently been moved to our new technology platform then it is also possible to hold cash in our Pension, the Collective Retirement Account. Details of the rates of interest payable on our new platform are available here.