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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 |
---|---|---|
6th October 2023 | 2.16% | 1.84% - 2.34% |
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.
With only a few weeks to go before the EU referendum on 23rd June the ‘Remain’ versus ‘Leave’ debate is in full swing with campaigners vociferously presenting their arguments both factual and emotive. Have you been swayed one way or the other? We’d love to know how you intend to vote in the referendum.
With a new tax year, you have a new £15,240 tax-advantaged ISA allowance. We'd love to know how much you intend to invest in an ISA this tax year.
With the EU reforms having been announced and the poll will be held on 23th June 2016, we’d love to know how you intend to vote in the referendum.
After the latest fall in oil prices, and the US Federal Reserve’s decision to increase its interest rate, how confident are you feeling about the global economy in 2016?
With less than a week to go until George Osborne’s Autumn Statement, we'd love to know how confident you feel about your own personal finances?
In last week’s Budget, Chancellor George Osborne announced that he would be seeking views about further changes to pensions. One proposal is to change rules so that money saved in pensions is taxed before it goes in, rather than when it comes out. In other words, making it more like an ISA. Do you think changing pensions in this way would be good for your finances or not?
The Queen’s Speech confirmed that a referendum on Britain’s membership of the European Union will be held before the end of 2017. We can expect it to remain top of the media agenda for the foreseeable future – but what sort of impact, if any, do you think it will have on your finances?
With a whole host of options available, saving and investing can sometimes be a risky business when looking for good returns. But how much risk are you prepared to take for your savings and investments?
With less than 30 days to go until the General Election and uncertainty about who will win the battle for Number 10. We'd love to know which outcome do you think would be best for your savings, pensions and investments?
Following our recently commissioned poll to understand the nation's attitude to savings and investments; we'd love to know if you are you planning to save more this tax year than last?
Following yesterday’s Budget, how would you describe your outlook for the British economy?
We'd love to know whether you feel more or less confident about the economy following yesterday's Autumn Statement by the Chancellor.
How do you think the Markets will react to the No result in the Scottish Independence Referendum?
With the increase in the ISA allowance coming into effect on 1 July, we'd love to know by how much you intend to increase the amount you invest in your ISA this tax year?
With the Chancellor's latest Budget offering recently made public, we'd love to know how you fared?
Tell us the primary reason(s) you are investing in an ISA
With low interest rates and an annually increasing ISA allowance, we'd love to know how you intend using your allowance.
Are you more or less confident in the outlook for the UK economy compared with this time last year?
Whilst you may use a number of sources for fund selection, we'd love to know which of the following most closely describes the way you select funds for your portfolio.
The increase is £360 to a new limit of £11,880 of which £5,940 can be invested in cash. You will be able to use this new allowance from 6 April 2014. We'd love to know how you intend to use your ISA allowance.
Reports suggest the Government is considering the introduction of a £100,000 lifetime cap on ISA holdings. Would you support or oppose this cap?