The banking arrangements for our range of products are described below. The rates shown are the current rates earned on cash deposits, and base rate fluctuations may result in different interest rates being applied.
Please also note the terms of our agreement with Metro Bank involve us undertaking aspects of bank account management, for which we may receive a payment. We do not receive any payments from Lloyds Bank, Barclays, Cater Allen, Bank of Scotland or Royal Bank of Scotland plc.
Metro bank is our chosen banking partner for the above products, although some clients have accounts with Royal Bank of Scotland plc. Where interest is received from Metro Bank, we currently retain a share to cover any transaction charges and to help meet the running costs of your plan. This share is calculated as follows:
The maximum amount of interest that we will retain from any of the banks we partner with is the equivalent of 2% per year.
| Product | Bank | Tier | Total received | Paid to you | Retained by us |
| Options SIPP/Full SIPP | Metro Bank | All | 1.95% | 0.825% | 1.125% |
| Options SIPP/Full SIPP | Royal Bank of Scotland | All | 1.71% | 1.71% | 0.00% |
For example, if your account is earning 1.20%, this means that for every £100 you hold in cash you will receive £1.20 in interest over a year.
The banking arrangements for our closed product range are shown below along with the current rate of interest paid on cash deposits:
| Product | Bank | Tier | Total received | Paid to you | Retained by us |
| EBS SIPP/ SAPPP | Bank of Scotland | All | 1.55% | 1.55% | 0.00% |
| Liberty SIPP | Royal Bank of Scotland | All | 1.71% | 1.71% | 0.00% |
| Hornbuckle Mitchell | Bank of Scotland | All | 1.55% | 1.55% | 0.00% |
| Hornbuckle Mitchell | Barclays Bank | All | 0.00% | 0.00% | 0.00% |
| Hornbuckle Mitchell | Cater Allen | <£500k | 1.44% | 1.44% | 0.00% |
| Hornbuckle Mitchell | Cater Allen | >£500k | 1.54% | 1.54% | 0.00% |
| Freedom SIPP | Lloyds Bank | All | 0.00% | 0.00% | 0.00% |
| Date range | Bank | Total received | Paid to you | Retained by us |
| 01/06/25 – to date | Metro Bank | 1.95% | 0.825% | 1.125% |
| 01/03/25 – 01/06/25 | Metro Bank | 2.15% | 0.925% | 1.225% |
| 01/12/24 – 01/03/25 | Metro Bank | 2.25% | 0.975% | 1.275% |
| 31/08/24 – 01/12/24 | Metro Bank | 2.45% | 1.075% | 1.375% |
| 01/11/23 – 31/08/24 | Metro Bank | 2.70% | 1.20% | 1.50% |
| 01/09/23 – 31/10/23 | Metro Bank | 2.35% | 1.025% | 1.325% |
| 01/08/23 – 31/08/23 | Metro Bank | 2.30% | 1.00% | 1.30% |
| 01/06/23 – 31/07/23 | Metro Bank | 2.10% | 0.90% | 1.20% |
| 01/05/23 – 31/05/23 | Metro Bank | 2.00% | 0.85% | 1.15% |
| 01/03/23 – 30/04/23 | Metro Bank | 1.90% | 0.80% | 1.10% |
| 01/02/23 – 28/02/23 | Metro Bank | 1.70% | 0.70% | 1.00% |
| 01/01/23 – 31/01/23 | Metro Bank | 1.50% | 0.60% | 0.90% |
| 24/01/25 – to date | Royal Bank of Scotland | 1.71% | 1.71% | 0.00% |
| 31/10/24 – 24/01/25 | Royal Bank of Scotland | 1.81% | 1.81% | 0.00% |
| 15/08/23 – 31/10/24 | Royal Bank of Scotland | 1.90% | 1.90% | 0.00% |
| 05/07/23 – 14/08/23 | Royal Bank of Scotland | 1.80% | 1.80% | 0.00% |
| 22/05/23 – 04/07/23 | Royal Bank of Scotland | 1.60% | 1.60% | 0.00% |
| 18/04/23 – 21/05/23 | Royal Bank of Scotland | 1.40% | 1.40% | 0.00% |
| 13/02/23 – 17/04/23 | Royal Bank of Scotland | 1.25% | 1.25% | 0.00% |
| 01/01/23 – 12/02/23 | Royal Bank of Scotland | 0.85% | 0.85% | 0.00% |
| 15/04/25 – to date | Bank of Scotland | 1.55% | 1.55% | 0.00% |
| 21/01/25 – 15/04/25 | Bank of Scotland | 1.65% | 1.65% | 0.00% |
| 14/10/24 – 21/01/25 | Bank of Scotland | 1.75% | 1.75% | 0.00% |
| 26/09/23 – 14/10/24 | Bank of Scotland | 1.90% | 1.90% | 0.00% |
| 21/08/23 – 25/09/23 | Bank of Scotland | 1.80% | 1.80% | 0.00% |
| 10/07/23 – 20/08/23 | Bank of Scotland | 1.70% | 1.70% | 0.00% |
| 12/06/23 – 09/07/23 | Bank of Scotland | 1.40% | 1.40% | 0.00% |
| 17/04/23 – 11/06/23 | Bank of Scotland | 1.30% | 1.30% | 0.00% |
| 06/03/23 – 16/04/23 | Bank of Scotland | 1.20% | 1.20% | 0.00% |
| 09/01/23 – 05/03/23 | Bank of Scotland | 1.00% | 1.00% | 0.00% |
| 01/01/23 – 08/01/23 | Bank of Scotland | 0.80% | 0.80% | 0.00% |
| 01/01/23 – to date | Lloyds Bank | 0.00% | 0.00% | 0.00% |
| 01/01/23 – to date | Barclays | 0.00% | 0.00% | 0.00% |
| 04/09/23 – to date | Cater Allen | 1.44%*/ 1.54%** | 1.44%*/ 1.54%** | 0.00% |
| 03/07/23 – 03/09/23 | Cater Allen | 1.29%/1.39%** | 1.29%/1.39%** | 0.00% |
| 02/06/23 – 02/07/23 | Cater Allen | 1.09%*/1.19%** | 1.09%*/1.19%** | 0.00% |
| 03/04/23 – 01/06/23 | Cater Allen | 1.00%*/1.09%** | 1.00%*/1.09%** | 0.00% |
| 02/03/23 – 02/04/23 | Cater Allen | 0.85%*/0.95%** | 0.85%*/0.95%** | 0.00% |
| 04/01/23 – 01/03/23 | Cater Allen | 0.75%*/0.85%** | 0.75%*/0.85%** | 0.00% |
* For balances less than £500k. ** For balances more than £500k
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