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Interest rates
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Interest payable on Cash ISAs (effective from 3rd December 2011)
| Interest on Cash ISA – Issue 1 | ||||
|---|---|---|---|---|
| Cash Balance | Tax free rate | AER | Tax free rate including bonus |
AER including bonus |
| £1+ | 0.90% | 0.90% | 2.61% | 2.62% |
The interest rates above are applicable to Cash ISAs opened and funded between 3 December 2011 and 5 April 2012. Total interest earned consists of a variable rate element and a fixed rate bonus. Variable rate interest is paid monthly on the first working day of the month. This element of the interest rate may move up or down.
The fixed rate bonus is 1.71% and is paid annually. The bonus applies to cash balances held over a period of 12 months. This period starts on the date that cleared funds from the first deposit are applied to the Cash ISA. At the end of the bonus period, the variable rate without bonus will apply.
The first bonus payment date is 16 April 2012, when bonuses accrued from the initial deposit date to 5 April 2012 will be credited. The second bonus payment date will be 16 April 2013 when the remaining bonus amount will be credited.
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Bonus example10 December 2011 – You open a Cash ISA and send Selftrade a cheque for £3,500 to deposit into your account.
13 December 2011 – The cheque is processed by Selftrade.
15 December 2011 – The cheque is cleared and the 12 month bonus rate period starts.
16 April 2012 – First bonus payment date. Bonus accrued on cash balances, held from 15 December 2011 to 5 April 2012 inclusive, is credited to the Cash ISA.
16 April 2013 – Second bonus payment date. Bonus accrued on cash balances, held from 6 April 2012 to 14 December 2012 (the end of 12 month bonus period), is credited to the Cash ISA.
Explanation of terms
Tax free is the contractual rate of interest payable where interest is exempt from income tax. Tax rules may change and the value of tax relief depends on the circumstances of the individual.
AER stands for Annual Equivalent Rate and illustrates what the interest rate would be if interest was paid and compounded once each year. As every advertisement for a savings product, which quotes an interest rate, will contain an AER you will be able to compare more easily what return you can expect from your savings over time.
Historic rates for Cash ISA
| Accounts opened 3 December 2011 to 3 January 2012, inclusive | ||||
|---|---|---|---|---|
| Cash Balance | Tax free rate | AER | Tax free rate including bonus |
AER including bonus |
| £1+ | 0.90% | 0.90% | 2.00% | 2.01% |
For accounts opened between these dates, free trades were added to associated trading accounts. Show details ;)
Free trades were replaced by a higher bonus interest rate, as shown in the current interest rate table, above.
Free trades terms: when you first deposit funds into your Cash ISA, free trades may be applied to your associated trading account. The number of trades depends on the amount of your first deposit into the Cash ISA (funded by a payment or by transfer-in). The first deposit must be made prior to 6 April 2012.
To receive the free trades, you must have an existing trading account or you must open a trading account prior to opening your Cash ISA. If you open your first trading account after the day on which you open your Cash ISA, you will not be eligible for the free trade incentive.
The free trades will be allocated to your trading account (can be used in Dealing, Shares ISA or SIPP Dealing accounts) within one week of your deposit to the Cash ISA and will expire 3 months after the date of allocation. Selftrade will inform you, by secure message, when the free trades have been allocated.
Deposit value Number of free trades £0-3,000.00 0 £3,000.01 - £4,000.00 1 £4,000.01 - £5,000.00 3 £5,000.01+ 5 Important: the initial deposit to the cash ISA must remain in the Cash ISA for a period of three months for the free trades to remain eligible. If the Cash ISA balance reduces below the value of initial deposit, within 3 months of that deposit, Selftrade will remove any unused free trades and reclaim the cash value of any free trades already used by debiting your trading account or bank account.
Valid for Cash ISA accounts opened on 3 December 2011 to 3 January 2012, inclusive.
Free trades: when you first deposit funds into your Cash ISA, free trades may be applied to your associated trading account. The number of trades depends on the amount of your first deposit into the Cash ISA (funded by a payment or by transfer-in). The first deposit must be made prior to 6 April 2012.
To receive the free trades, you must have an existing trading account or you must open a trading account prior to opening your Cash ISA. If you open your first trading account after the day on which you open your Cash ISA, you will not be eligible for the free trade incentive.
The free trades will be allocated to your trading account (can be used in Dealing, Shares ISA or SIPP Dealing accounts) within one week of your deposit to the Cash ISA and will expire 3 months after the date of allocation. Selftrade will inform you, by secure message, when the free trades have been allocated.
| Deposit value | Number of free trades |
|---|---|
| £0-3,000.00 | 0 |
| £3,000.01 - £4,000.00 | 1 |
| £4,000.01 - £5,000.00 | 3 |
| £5,000.01+ | 5 |
- Important: the initial deposit to the cash ISA must remain in the Cash ISA for a period of three months for the free trades to remain eligible. If the Cash ISA balance reduces below the value of initial deposit, within 3 months of that deposit, Selftrade will remove any unused free trades and reclaim the cash value of any free trades already used by debiting your trading account or bank account.
Interest payable on trading accounts (from 05 February 2009)
| Gross interest rate applied to whole balance 6 | ||
| Cash balance band | Dealing, ISA and SIPP Dealing accounts | CTF accounts |
|---|---|---|
| £1 - £15,000 | 0.00% | 0.00% |
| £15,001 - £50,000 | 0.00% | 0.00% |
| £50,001 - £250,000 | 0.00% | 0.00% |
| £250,001+ | 0.10% | 0.00% |
6The indicated rates are payable on cash held in all trading account types except Child Trust Funds. We pay interest monthly, normally on the first working day of each month. We don't pay amounts of less than 30p and these will not accrue to the next period. Interest is calculated separately for each account type held at Selftrade. Interest on cash held in Child Trust Fund credit interest is paid at 1% below base rate. Except in the case of a Share ISA, credit interest is paid gross of UK income tax and you should, where applicable, account separately for any tax due. For a Shares ISA, a tax deduction is made, currently at 20%, and shown separately to the credit interest payment.
Historic interest rates on trading accounts
There are no historic rates available.
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