Find out about Barclays Stockbrokers improved interest rates on cash balances held in a Barclays Stockbrokers SIPP.
New SIPP interest rates

Interest rates paid on cash balances

The interest paid is banded which means the rates below apply only to the proportion of the account balance within each band. Each band of your overall cash balance will receive different rates of interest giving a blended rate. Any interest due will be paid quarterly in arrear.

Current interest rates

​Cash balance band ​Interest rate on this band only/AER1 ​Tax-free rate2
​£1 - £999 0% 0%​
​£1,000 - £49,999 ​0.2% pa ​0.2% pa
​£50,000 and over 0.5% pa​ ​0.5% pa

Rates are variable

As an example, on £100,000 held in cash, you receive no interest on the first £999, then 0.2% on the balance from £1,000 up to £49,999, then 0.5% on the final £50,000. So the interest received is a blend of the three tiers above and represent 0.348% on £100,000.

New interest rates

In line with the Bank of England’s decision to reduce interest rates, we will be reducing our interest rates on cash balances from 1 December 2016. Also, rates you receive will no longer be linked to Barclays Base Rate.

​Cash balance band ​Interest rate on this band only/AER1 ​Tax-free rate2
​£1 - £999 0% 0%​
​£1,000 - £49,999 ​0.05% pa ​0.05% pa
​£50,000 and over 0.25% pa​ ​0.25% pa

Our interest rates for a Barclays Stockbrokers SIPP no longer directly link to the Barclays Bank Base Rate but are managed by us instead (a “managed” rate) which are rates that we set and can change. For SIPPs, the interest has also moved to a banded rate structure, which we already use for our ISAs. This means the interest rates apply only to the portion of the balance within each band, not on your cash balance as a whole. Each band of your overall cash balance will receive different rates of interest to give you an overall blended rate.

All other rates and charges stay as they are.

A Barclays Stockbrokers SIPP is primarily designed for those who want to hold investments. However, if you want to hold cash in your SIPP because you’re uncertain of market conditions, or need time to decide what to invest in, you now receive interest on all cash balances of £1,000 or more.

Our FAQs are designed to answer your questions about the changes to our interest rates.

Our interest rate changes also apply to our Investment ISA and Corporate ISA.

Remember:

  • The value of your investments can fall as well as rise and you may get back less than you initially invested.
  • Investing is not for everyone, if you are unsure please seek independent financial and tax advice.

Ready to invest?

Open a SIPP


*Calls to 0808 numbers are free if made from a UK landline. Call costs to 0141 numbers may vary – please check with your telecoms provider. Calls may be recorded so that we can monitor the quality of our service and for security purposes. Our opening hours are 7.30am-7pm Monday to Thursday, 7.30am-6pm on Friday (excluding bank holidays) and 9.30am-12.30pm on Saturday.

1
AER (Annual Equivalent Rate) illustrates what the interest rate would be if interest was paid and compounded once each year.

2 Tax-free – indicates that interest earned on cash held in a SIPP is not subject to UK Income Tax and will be paid gross, provided that all SIPP conditions are met. The level and basis of tax can change and the value of tax relief depends on your personal circumstances.

3 Correct as at 7 January 2015.

Remember:

  • The value of your investments can fall as well as rise and you may get back less than you initially invested.
  • Investing is not for everyone, if you are unsure please seek independent financial and tax advice.

Ready to invest?

Open a SIPP


Call us on 0808 159 4953* or 0141 352 3937*

FAQs

Get answers to commonly asked questions about the changes to our interest rates.

Full rates and charges

Existing Barclays Stockbrokers client?


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