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Cash interest explained

You will receive interest on balances in your platform cash account at the prevailing rate.

Embark Investment Services Limited acts as the custodian for investments on the Willis Owen platform and is one of our strategic partners that provides our Willis Owen ISA, GIA, Junior ISA and SIPP.

Embark places cash with a number of banking partners for safekeeping and to provide the potential for you to earn interest on money in your platform cash account. By managing cash in this way, it aims to provide better protection and a higher overall level of interest than if all funds were placed with a single bank.

The rates of interest paid by banks will vary. Embark retains a portion of the interest earned to cover its costs in managing platform cash.

Current Interest Rate

The table below shows the current customer interest rate payable on cash balances along with the amount of interest retained by Embark. The customer interest rate shown is that after accounting for interest retained by Embark:

Date From Customer Interest Rate Interest retained by Embark
12th June 2024 2.6% 1.75% - 2.00%

Embark can change the rate of interest at any time and it reviews the position at least quarterly. Interest is calculated and accrued daily and is credited to your account on the first of each month. If you transfer out, accrued interest is applied at the point of transfer. We will inform you if and when the interest rate changes as soon as is practicable.

Interest retained

The table below shows the yearly equivalent rates of interest Embark expects to pay based on a range of possible yearly interest rates it may earn.

Interest Embark expects to earn Customer Interest Rate Interest retained by Embark
0-1% 0 – 0.46% 0 – 0.54%
1-2% 0.46% – 0.94% 0.54% – 1.06%
2-3% 0.94% – 1.46% 1.06% – 1.54%
3-4% 1.46% – 2.02% 1.54% – 1.98%
4-5% 2.02% – 2.61% 1.98% – 2.39%
5%+ 2.61%+ 2.39%+

Historic Interest Rates

To see details of historic customer interest rates, along with the amount of interest retained by Embark, click here.

Monitoring your investments

As the stock market constantly changes, it is important that you regularly review your portfolio (at least once a year), to ensure it is still in line with your goals.

Things to consider when monitoring your investments:

Assess your portfolio's performance - check the returns and ask is everything still on target to meet your goals?

Review your individual funds - different fund managers perform well in different circumstances. It is likely that your position and those of your investments will change over time. It's crucial to check that each one is performing as well as it can.

Evaluate your asset allocation - this will ensure that your investment strategy remains balanced in line with your risk appetite. In doing so, you will also check to ensure your portfolio is sufficiently diversified.

For example, are you invested in equity funds only or other asset classes? If your portfolio was split up equally into equity and bond funds, will this ratio be the same after a year? The performance of different funds can vary, so over time your portfolio may change from how it started out.

Review your future goals - it's essential to always have a clear idea of what these goals are and whether your portfolio is on track to achieve them. For example, if you're saving up for a new house, you'll want to check your portfolio is built for growth, rather than income.


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