Best cash savings interest rates for a SIPP?

NedS

QrizB said:

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!

Yes, I've only just started following the prices, and wished I'd bought at that price, as rates have since dropped slightly. I will be keeping a close eye on prices over the next couple weeks, and if they spike to 4.75% or above, I'm a buyer. How I wish I'd sold everything 3 weeks ago at which point I'd be quite happy to put the lot in gilts now for the next 2 years.

Does anyone know of a decent site to track the yields of gilts in real time? ATM I'm just watching the purchase price and punching it into my spreadsheet to tell me the yield to maturity. I guess I'll just have to work backwards and work towards a price that will give me my desired target yield (£90.31 clean price gives 4.75% for TN25 today)

Johnny_Doe

Minerva SIPP lite fees are:

Set up Fee- £95

Annual Fee – £195

Plus VAT?

As I'm only planning on holding cash, and quite a large sum, this is the best product even with the fees and easily beats Vanguard.

I'm still not 100% clear on what banks/BS'es are included, and would possibly need to contact the bank directly, or is it only the banks listed on this website that are currently available, maybe someone could confirm please? 

Accounts for SIPPs – Investment Sense  ?

Response I had from InvestAcc:

"We are able to work with any account being offered by a Bank/Building society that can be opened by a SIPP. Some banks only offer accounts to retail/private clients only and do not allow business/trust access. Best to check in the terms of the account you are looking to open."

shortseller09

Yes, the Investment Sense site regularly updates all available offers. However, I believe you would be restricted to one deposit account with the Lite.

midlandsimon

I have held both products with InvestAcc and I believe the fees are as below. I am in the Minerva atm.

Investacc SIPP Lite- one external deposit account 

£95 Set up fee 
£195 Annual fee

InvestAcc Minerva SIPP- As many deposit accounts as you wish 

£0 Set up fee
£400 Annual fee

All plus vat. No charges for setting up or holding the bank accounts. 

waveneygnome

Can I ask: those of you with Minerva Sipps....are you happy with the platform/service you receive.

Thinking of transferring over to them to facilitate commercial property purchase.

midlandsimon

Me and my wife have always found InvestAcc to be excellent. We initially set up through our IFA to consolidate pensions and purchase a commercial property in Nottingham which was done hassle free. 

The surplus cash element has been mixed through various cash deposit accounts (keeping within the £85,000 FSCS) protection which we instruct. We have named contacts at InvestAcc who i can always get hold of and e-mails are responded to. 

Our IFA uses them for all their SIPP clients and i have seen on various forums the glowing feedback they have. Others may have a different opinion but just my personal experience with them. 

Johnny_Doe

Johnny_Doe said:

Minerva SIPP lite fees are:

Set up Fee- £95

Annual Fee – £195

Plus VAT?

As I'm only planning on holding cash, and quite a large sum, this is the best product even with the fees and easily beats Vanguard.

I'm still not 100% clear on what banks/BS'es are included, and would possibly need to contact the bank directly, or is it only the banks listed on this website that are currently available, maybe someone could confirm please? 

Accounts for SIPPs – Investment Sense  ?

Response I had from InvestAcc:

"We are able to work with any account being offered by a Bank/Building society that can be opened by a SIPP. Some banks only offer accounts to retail/private clients only and do not allow business/trust access. Best to check in the terms of the account you are looking to open."

Can anyone expand on what bank accounts are allowed (instead of me contacting each one), Is it just the one's on the above link and what's the best rate over, say, 1yr fixed term? Many Thanks!

shortseller09

Yes, it's the list on Investment Sense, just choose the term and whichever provider you want.

midlandsimon

As Shortseller says... all the ones on best buy tables with Investment Sense can be established with the InvestAcc SIPP. We have just done a new United Trust 2 yr account in my Minerva SIPP this week. All went smoothly.  

shortseller09

As an update I have, by chance, discovered that my Investacc SIPP has access to certain cash management platforms. I have just opened one with Insignis, which for a fee (max 0.25%) has access to many of the leading savings products eg 2 year fix at 4.5%. Standard FSCS protections.