Cash on bank deposit
You may decide to retain your SIPP fund in whole or in part in cash, in which case the funds will remain in your SIPP's Bank of Scotland account. Bank of Scotland is part of the Lloyds Banking Group.
Interest rates from 1st January 2015
The interest is paid on the whole balance, not just the amount above the threshold.
|Account balance||Interest rate|
|£0 to £99,999.99||0.10%|
|£100,000 to £249,999.99||0.15%|
|£250,000 and over||0.20%|
Interest is not linked to the Bank of Scotland base rate.
Interest will be paid gross and credited to the SIPP bank account monthly.