SIPP/SSAS Cash Balance Survey
20-12-2007
In the December 2007 edition of High Net Worth (HNW) magazine published by the Financial Times, Westerby Trustee Services Ltd came out to be one of the best interest rate providers amongst a handful of other companies. A quote taken directly from the HNW magazine states:
“When it comes to rates, there are slightly more than half that exceed the median. The best ones available are from Alliance Trust, Berkeley Burke, Hargreaves Lansdown, Nigel Sloam & Co, Anglo Irish from Origen, Suffolk Life and Westerby”
Westerby was also only one of three companies that do not have their interest rates on cash balances directly linked to the base rate, therefore we do not have to track any rate changes and amend them.
The survey included data supplied by another 28 companies and also looked at the importance of how providers must focus on offering customers transparency with the interest rates they provide.
Our current rates of interest as at Dec 2007 are:
- For cash balances up to £50,000 = 4.78%
- For cash balances between £50,000 and £100,000 = 5.22%
- For cash balances over £100,000 = 5.74%
- For cash balances over £1 million = 5.83%
For full details of our bank account interest rates, please click on the links below: