Any SIPPs paying interest on cash?

amanda1024

My partner is nearly 55 and not working, but I’ve realised he can set up a SIPP and still get the £720 pa tax relief. Because he wouldn’t necessarily be leaving the money in there for very long, I’m trying to find out which SIPPs will pay interest on cash. E.g. nutmeg pays base rate minus 0.75ppts, but says they don’t want people keeping their money in cash for too long.

eastcorkram

Both HL and Fidelity definitely do. 

coastline

Investment platforms paying the highest interest rate on cash in 2024 (moneytothemasses.com)

investmentsense show a list but the link mightn't work .

Accounts for SIPPs - Investment Sense

dunstonh

 I’m trying to find out which SIPPs will pay interest on cash.

All SIPPs pay interest on cash.

. E.g. nutmeg pays base rate minus 0.75ppts

Nutmeg do not offer a SIPP.

bjorn_toby_wilde

AJ Bell pay 3.24% on SIPP balances below £10,000

LHW99

II pay 3.04 AER on Sipp cash up to £10k, more on amounts over that

ColdIron

HL 3.45% (3.51% AER)

ProDave

eastcorkram said:

Both HL and Fidelity definitely do. 

Please explain how, I have a SIPP (in drawdown) with HL and I was told by them there was no way to get interest on anything in cash.

ColdIron

You can't put it into a savings account such as their active savings, but anything in your capital account (with HL) will automatically receive interest. You don't have to do anything

NoMore

Interest rates for HL Accounts | Hargreaves Lansdown

States on the website, for cash holdings in their various types of accounts

eastcorkram

ProDave said:

eastcorkram said:

Both HL and Fidelity definitely do. 

Please explain how, I have a SIPP (in drawdown) with HL and I was told by them there was no way to get interest on anything in cash.

No idea how, but I can assure you I have a cash balance in both, and it earns interest . In fact, the fidelity one is all cash. This money is not invested in a money market fund or anything. It's just a cash balance.