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In this section
How we manage your cash
Here, you’ll see the current interest rates we pay on cash held in our accounts. Plus, find out how your money is protected and where it’s held.
| Account | Gross rate of annual interest | Annual Equivalent Rate (AER) |
|---|---|---|
| ISA (including Junior ISA) | 3.10% | 3.14% |
| Investment Account | 3.10% | 3.14% |
| Cash Management Account | 3.10% | 3.14% |
| SIPP (including Junior SIPP) | 3.20% | 3.25% |
Please note:
- Interest rates can be changed at any time. The rates above are effective from 1st December 2024.
- Where HMRC requires, the interest will be paid net of basic rate tax. This would be in the case of interest paid into our Investment Accounts and Cash Management Account. Interest in ISAs and SIPPs are paid gross.
- Interest is paid on a monthly basis on or around the 21st of each month.
- The interest paid each month is based on your cash balance each day of the previous calendar month. For example the interest paid in July is based on the balance each day of June.
Historic rates
| Effective Date | ISA (incl. JISA) | Investment Account | Cash Management Account | SIPP (incl. JSIPP) |
|---|---|---|---|---|
| 01/12/24 - present | 3.10% | 3.10% | 3.10% | 3.20% |
| 01/09/24 - 30/11/24 | 3.35% | 3.35% | 3.35% | 3.50% |
| 01/04/24 - 31/08/24 | 3.60% | 3.60% | 3.60% | 3.70% |
| 01/01/24 - 31/03/24 | 3.45% | 3.45% | 3.45% | 3.65% |
| 01/10/23 - 31/12/23 | 3.35% | 3.35% | 3.35% | 3.55% |
| 01/09/23 - 30/09/23 | 3.00% | 3.00% | 3.00% | 3.50% |
| 01/07/23 - 31/08/23 | 2.75% | 2.75% | 2.75% | 3.25% |
| 01/06/23 - 30/06/23 | 2.35% | 2.35% | 2.35% | 2.80% |
| 01/05/23 - 31/05/23 | 2.10% | 2.10% | 2.10% | 2.55% |
| 01/04/23 - 30/04/23 | 2.05% | 2.05% | 2.05% | 2.50% |
| 01/03/23 - 31/03/23 | 1.60% | 1.60% | 1.60% | 2.10% |
| 01/02/23 - 28/02/23 | 1.50% | 1.50% | 1.50% | 1.90% |
| 01/01/23 - 31/01/23 | 1.45% | 1.45% | 1.45% | 1.85% |
| 01/12/22 - 31/12/22 | 1.10% | 1.10% | 1.10% | 1.40% |
| 01/10/22 - 30/11/22 | 0.70% | 0.70% | 0.70% | 0.95% |
| 01/09/22 - 30/09/22 | 0.45% | 0.45% | 0.45% | 0.60% |
| 01/07/22 - 31/08/22 | 0.05% | 0.05% | 0.05% | 0.25% |
Charges made simple
At Fidelity, we do not charge a service fee for holding cash. We will retain interest from the bank(s) to enable us to continue to develop our products and services, and to help keep our platform fees low.
How and where we hold cash
We spread any cash you hold across several banks for your security. The banks we work with include:
- Barclays Bank Plc
- HSBC Bank Plc
- Royal Bank of Scotland Plc
- Lloyds Bank Plc
- Bank of America N.A.
- JPMorgan Chase Bank N.A.
Keeping your money in cash
You might want to consider the effect of inflation (rising costs) if you decide to keep your money in cash for a prolonged period. Inflation typically reduces the buying power of your cash in the long term.
If you have a Self-Invested Personal Pension (SIPP), be mindful that the value of your pension pot may be at greater risk of being eroded by inflation if it holds only cash, or mainly cash. If you’re unsure where to invest or have complex needs, speak to an authorised financial adviser.
Your money is protected
There are many levels of protection for your money if something goes wrong. We’re authorised and regulated by the Financial Conduct Authority, and are required to separate client money and assets from our own resources, unlike a bank. As an extra layer of protection, customers are covered by the Financial Service Compensation Scheme (FSCS).
Read more about how we protect your money and the various levels of protection in place for you.
FAQs
What happens to interest on closed accounts?
Where an account is closed, Fidelity reserves the right to stop paying interest on this account from the date of closure.
Will the rate of interest Fidelity paid on cash change in the future?
The interest rates Fidelity pays on cash will be reviewed and updated if applicable, on the 1st of the month. The rates paid will be regularly monitored and Fidelity will make changes as required, e.g. when the Bank of England changes base rate.
Will Fidelity pay interest on unsettled / ringfenced cash?
Interest will not be paid on cash that's unsettled from a sale (still pending)
Where will interest on cash be paid?
Interest on cash will be paid back into the cash holding within the account the interest was generated from.
You have two main ways of holding cash in your accounts. We have ‘cash within your account’ which is held within your ISA, Investment Account and/or SIPP, as well as a separate cash account called the ‘Cash Management Account’, which sits outside of these accounts, and can be used to pay fees.
Policies and important information
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Please remember that past performance is not necessarily a guide to future performance, the performance of investments is not guaranteed, and the value of your investments can go down as well as up, so you may get back less than you invest. When investments have particular tax features, these will depend on your personal circumstances and tax rules may change in the future. This website does not contain any personal recommendations for a particular course of action, service or product. You should regularly review your investment objectives and choices and, if you are unsure whether an investment is suitable for you, you should contact an authorised financial adviser. Before opening an account, please read the ‘Doing Business with Fidelity’ document which incorporates our client terms. Prior to investing into a fund, please read the relevant key information document which contains important information about the fund.
This website is issued by Financial Administration Services Limited, which is authorised and regulated by the Financial Conduct Authority (FCA) (FCA Register number 122169) and registered in England and Wales under company number 1629709 whose registered address is Beech Gate, Millfield Lane, Lower Kingswood, Tadworth, Surrey, KT20 6RP.
