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There's more about fixed term deposits in our terms and conditions.
Download terms and condition of the Elevate Pension Investment Account
Here are the latest rates and terms available:
The above table was updated 3 January 2017
This information is from Cater Allen – Elevate isn’t responsible for its accuracy.
By sharing this information, we aren’t necessarily recommending this particular provider.
The interest rates shown in the table are Gross Annual Equivalent Rate (AER). This shows what the interest rate would be if interest was paid and compounded each year.
These rates are indicative – we’ll show the actual rate on your client’s Contract Note.
Remember, these interest rates don’t take account of any Elevate charges. These charges will of course reduce the overall value of your client’s investment and inflation will reduce the purchasing power of these funds over time. The interest rate is fixed at the start of the investment date and is set by the fixed term deposit provider.
Interest for fixed term deposits held in the Elevate PIA is paid gross.
If your client orders a fixed term deposit, their money will be grouped with orders from our other customers. All the orders will all be placed after the cut-off point on each order day.
Your client cannot withdraw, transfer or switch their money until the end of the fixed term, apart from in some exceptional circumstances. Even in these exceptional circumstances, your client may be charged for withdrawing their money early.
Fixed term deposits are only available through the Elevate Pension Investment Account. They’re not available to discretionary fund managers, and can’t be held in a Model Portfolio.
The fixed term deposits, and their interest rates, are offered at the discretion of the fixed term deposit providers. The provider could change or remove any fixed term deposits with little or no notice.
Each fixed term deposit provider is covered by the Financial Services Compensation Scheme (FSCS). This protects your client up to £85,000 if the provider becomes insolvent. If your client has invested with providers outside the UK, they may be covered by an equivalent scheme.
To find out more
visit The Financial Services Compensation Scheme (FSCS) website.
If you're still not sure whether they're right for your client, please get in touch - we'd be happy to help.