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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.

Why invest?

Most people start off by saving in bank and building society accounts because of the financial security they can offer and because we should all have easily accessible cash in case of one of life’s little emergencies.

Whilst cash savings are a good starting point and provide an essential safety net, the low interest rates offered on many cash savings accounts may mean that they are less appropriate when saving for longer-term goals. Money held in cash savings accounts may fail to keep pace with inflation meaning the buying power of your money may reduce over the longer-term. This is where investing may help. Investing offers the potential for your money to work harder for you and to provide the opportunity (although not the guarantee) of achieving better returns than cash over the long-term. You don't need large amounts of money to start investing - start with as little as £25, but you should usually plan to invest for at least five years.

Below, we look at the importance of defining your goals and how likely you are to achieve them, and in the next few sections, we give you what you need to know before you start investing. If you need any help, our customer service team are here to guide you along the way.

What is your goal?

It is important to think about your goals - what you would like your investments do for you? For example, do you want to invest for a new car, save for your child's future or to plan for your retirement? Once you know what your goals are, why not take a look at our goal planning tool below.

You can use this tool to get an idea of how your investments could grow over time or of the likelihood of achieving a financial goal. Enter the amount you would like to invest as a lump sum and/or planned regular investments, together with the amount you are looking to achieve (if investing for a target), your time horizon and an assumed risk level.

Goal planning
Select a term of at least 5 years
Find out in seconds what you could achieve by investing in your future
The chart below will update with the likely value growth based on your own inputs as soon as enough information has been entered.

Get started today with as little as £25

Get started


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