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Elevate cash interest rates

Interest is payable on money held in your Elevate cash accounts, at a rate set by us or by the relevant banking partner(s), depending on the product. Interest is calculated each day and could be zero or negative in the future.

The current rates are below

Cash AccountPrevious annual interest rates paid from 29/08/2018 to 30/09/2018Interest rates payable from 01/10/2018
Elevate Cash 0.29% 0.29%
Elevate General Investment Account 0.29% 0.29%
Elevate ISA 0.29% 0.29%
Elevate Pension Investment Account 0.20% 0.35%

Our interest rates

  • Elevate Cash, GIA and ISA interest - the interest we pay you is not based on the amount that we receive from our banking partners. In this quarter 06/10/2019 - 05/01/2020, the amount we expect to receive from money deposited by our customers and customers who use other investment services of Elevate Portfolio Services is an average of 0.71% per annum. This compares to an average of 0.70% per annum we received in the previous quarter (06/07/2019 - 05/10/2019).
  • Elevate Pension Investment Account interest - the rate of interest applied to cash held in the trustee bank account is set by our banking partner(s). The current rate is shown in the table above.
  • Other interest - we operate platform administration bank accounts to move money to and from your Elevate account and into and out of Elevate cash and product wrappers. We also operate investment administration bank accounts to make payments for investments, receive proceeds from the sale of investments and receive investment income.

No interest will be paid or deducted on money in the platform administration bank accounts and the platform investment bank accounts. We currently receive interest of 0.35% per annum on these accounts.

Further details about historic interest rates are available upon request.

Our external banking partners

Currently our external banking partners are:

  • Royal Bank of Scotland (RBS)
  • Bank of Scotland (BoS)
  • Cater Allen