3.11% AER*
The current interest rate is 3.11% AER (3.07% Gross)
The Gross rate is the annual interest rate we pay, before tax. Interest is calculated daily and paid monthly. The Annual Equivalent Rate (AER) shows the interest received over the course of the year, with the compounding effect of it being paid monthly.
* Note: The rate of Quilter Interest is currently 2.49% AER (2.46% Gross) on transactional cash within the Collective Investment Bond (CIB).
The cash facility within your Quilter products
Our ISA, Junior ISA (JISA), Collective Investment Account (CIA) and Collective Retirement account (CRA) have their own cash facility.
The cash facility’s main purpose is to support the efficient running of your investments by avoiding small trades that could limit other activity. For example, paying for fees and charges, or when making payments in and out.
If you invest in our Collective Investment Bond (CIB), cash cannot be selected as an investment option and is only used transactionally. This is known as `transactional cash' and it works differently to the cash facility. It has a different interest rate and you can find out more below.
Our automated cash management feature ensures sufficient cash is held to cover charges and fees within your product, keeping cash to a minimum. We do not take a service/product charge on cash, instead we retain some of the interest earned on it. Find out more below.
How could you hold cash in your product?
If you have an ISA, CIA or CRA, you can choose to hold some of your investment in cash temporarily, such as in preparation for a planned withdrawal.
However, the cash facility is not intended for those who wish to invest high proportions of their account in cash holdings for longer periods, such as over a number of months or years.
If you want to hold cash as an investment choice as part of your portfolio, perhaps to benefit from its low-risk properties as part of your portfolio, we offer a wide range of cash/money market funds that may be more appropriate. These funds provide diversified access to a wide range of cash-like options and that offer competitive cash returns.
We recommend speaking to your financial adviser about the risks and benefits of holding cash or cash/money market funds within your account.
How the current interest rate is calculated
This interest rate applies to cash balances in: ISAs, JISAs, CIAs and CRAs.
| Interest earned from our banks | Interest we retain | Gross Interest (passed on monthly to customers) | Annual Equivalent Rate (AER) for customers | |
| From 8 November 2024 to present | 4.33% | 1.26% | 3.07% | 3.11% |
So, as an example, if £1,000 was held in our cash facility for one year. We would earn a gross amount of £43.30, retain £12.60 and pass on £30.70 (which would be an annual equivalent of £31.10).
Protecting your money
We take the protection of client’s money very seriously and there are a number of safeguards in place to protect your money in the highly unlikely event that we or the manager of the assets you invest in becomes insolvent or a bank defaults. Find out more by reading our useful guide.
What interest rate is paid on transactional cash in the CIB?
In the CIB, we set a rate of Quilter Interest on cleared transactional cash and make an adjustment to the Bond on a monthly basis to reflect this.
The rate of Quilter Interest is currently 2.49% AER (2.46% Gross) on this transactional cash. The rate takes into account a tax deduction equivalent to the basic rate of tax - currently 20%.