Best cash savings interest rates for a SIPP?

NedS

shortseller09 said:

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.

That's good. HL have their active savings accounts, but AFAIK you cannot hold them within a SIPP. Perhaps that is something they can consider.

There is also a thread here discussing how best to hold cash in a SIPP:

https://forums.moneysavingexpert.com/discussion/6421073/where-to-hold-cash-in-a-sipp-or-s-s-isa

QrizB

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!

Bumping this thread

T23 matured yesterday, and the country hasn't gone bust. How did I do?

On 11/10/22 I spent exactly £500 to buy £504.99-worth if T23. I used my ii trading credit so there was no dealing charges. I received £5.68 coupon payments on 07/03/23 and 07/09/23, and £504.99 yesterday.

That's a 3.27% minimal-risk return in 11 months.

By the standards of October 2022, when:

PaulCooper said:

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

... I think that's reasonable.