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Fixed rate deposits in SIPP drawdown

My SIPP drawdown provider is quite restrictive in allowing cash to be held outside its own instant access deposit with Bank of Scotland, which pays 0.25% below base rate on large balances.
Anticipating falling rates, I am seeking to fix a proportion of this for a year (the longest they will allow), but although there are plenty of attractive bonds on retail offer (at around 6.75% pa), I can find only one (again with Bank of Scotland) which meets the provider's requirements:
a) fixed term (and rate) up to 12 months, but allowing return of capital within 7 days if required (even with a penalty);
b) with a UK institution; and
c) accepting corporate applications (in the name of the SIPP Trustees).

It seems to be c) which disqualifies most interesting offers. As I would like a choice, does anyone have experience of other reliable institutions meeting these requirements?

Comments

  • EdInvestor
    EdInvestor Posts: 15,749 Forumite
    Most of the SIPPs I've seen which allow a broader range of cash options have higher fees which tend to wipe out the advantage. IIRC the Newcastle BS had one that might be worth checking: it may be a better deal now with higher interest rates.
    Trying to keep it simple...;)
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