Old Mutual Wealth's platform cash deposit facility
If you hold money in the cash deposit facility within your ISA or Collective Investment Account, interest will be calculated and paid daily on the cash balance within your account at a rate set by us. The rate will remain in force until the next update. We seek to earn the best achievable rate, and do not seek to profit from client money held in cash deposit. The interest rate is set based upon expected interest which means we may earn marginally more or less than the interest we pay.
The rate of interest from 6 July 2020 is 0.00% a year before tax.
Please refer to the product literature on our literature library for an explanation of how tax deductions apply to the cash deposit facility.
Historical rates of interest
31 March 2020 to 5 July 2020: 0.05% a year before tax
17 March 2020 to 30 March 2020: 0.10% a year before tax
24 February 2020 to 16 March 2020: 0.24% a year before tax
13 August 2018 to 23 February 2020: 0.45% a year before tax
18 December 2017 to 12 August 2018: 0.32% a year before tax
14 November 2017 to 17 December 2017: 0.26% a year before tax
21 September 2016 to 13 November 2017: 0.14% a year before tax
12 August 2016 to 20th September 2016: 0.20% a year before tax
5 April 2015 to 11 August 2016: 0.35% a year before tax
1 May 2014 to 5 April 2015: 0.40% a year before tax
6 April 2014 to 30 April 2014: 0.35% a year before tax
April 2009 to 5 April 2014: 0.10% a year before tax
March 2009: 0.60% a year before tax
February 2009: 1.10% a year before tax
January 2009: 1.60% a year before tax
Old Mutual Wealth's platform cash deposit facility as at 1st of the month
| Bank/Building society |
% holdings of facility |
| National Westminster Bank PLC |
15% |
| Barclays Bank PLC |
17% |
| Lloyds Bank PLC |
17% |
| HSBC |
17% |
| Bank of New York Mellon |
17% |
| Standard Chartered Bank |
17% |
If your investments have recently been moved to our new technology platform then it is also possible to hold cash in our Pension, the Collective Retirement Account. Details of the rates of interest payable on our new platform are available here.