Best cash savings interest rates for a SIPP?

midlandsimon

Agree with Caveman8006 above. Take a look at the Minerva SIPP from InvestAcc. Offer open market access to bank + building society accounts through the SIPP.

Me and the wife both hold our plans with them and worked really well. Especially recently with the stock market turmoils and interest rate rises.  

MiserlyMartin

The £400 annual fee for starters puts me off that SIPP

caveman8006

MiserlyMartin The £400 annual fee for starters puts me off that SIPP

True, but if you intend to be in cash medium-term and have over £50,000 in your SIPP this is easily covered by the much higher net interest rates you can access

michaels

With the minerva sipp can you also put money into normal investment funds?  What are the charges for this - is the 400 basically a platform fee?

mcc100

michaels said:

With the minerva sipp can you also put money into normal investment funds?  What are the charges for this - is the 400 basically a platform fee?

https://www.investaccpensions.co.uk/literature-and-forms/minerva-sipp/

The Minerva SIPP can invest in a wider range of assets including commercial property and land, on an individual or group basis. Any combination of permitted investments may be made within a Minerva SIPP including deposit accounts, DFM, open market platform/wrap accounts, stockbroker accounts and trustee investment plans, all held together within the same SIPP.

michaels

I read that, but still came here to ask....

PaulCooper

Cater Allen are paying 3% on 12 month bonds at present
Paul 

Albermarle

The Minerva 'SIPP LIte' is a bit cheaper.

NedS

PaulCooper said:

Cater Allen are paying 3% on 12 month bonds at present
Paul 

TN25 UK gilts were at 4.66% earlier today for 2 year maturity.

QrizB

NedS said:

PaulCooper said:

Cater Allen are paying 3% on 12 month bonds at present
Paul 

TN25 UK gilts were at 4.66% earlier today for 2 year maturity.

I had some dividends sitting in my ii SSISA plus some trading credit that was due to expire so bought £500-worth of 2023 gilts yesterday, at the sort of yield you quote. I'm hoping the country doesn't go bust in the next eleven months!