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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 |
|---|---|---|
| 25th March 2024 | 2.46% | 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.
Here you’ll find a simple explanation of some of the most commonly used investment terms. If there is any other financial jargon you want translated, please call our Customer Service Team free on 0800 597 2525 or email us at enquiries@willisowen.co.uk and they will be pleased to help.
The amount you invest is sometimes called your capital.
This is a tax on the profit when you sell an asset that’s increased in value. It’s the gain you make that’s taxed, not the amount of money you receive. For example, if you bought a painting for £5,000 and sold it later for £25,000, you’ve made a gain of £20,000 (£25,000 minus £5,000).
Some assets are tax-free. You also do not have to pay CGT if all your gains in a year are under your tax-free allowance. Tax treatment depends on your individual circumstances and may change.
This is the amount your original capital increases but without taking into account any income.
The net balance of cash moving in and out of a business.
A Child Trust Fund (CTF) is a long-term tax-free savings account for children born between 1st September 2002 and 2nd January 2011. CTFs can no longer be applied for and, instead, Junior ISAs are now available for children.
An asset pledged by the borrower of a loan to a lender to secure the value of a loan. Examples of collateral include property, cars and equipment. In the context of investments, shares or bonds might be used.
A collective investment scheme (CIS) is an investment fund used for collective investment by investors. Investors’ money is invested on a pooled basis by an investment manager in return for a fee.
Two common examples of authorised CIS' are authorised unit trusts (AUTs) and investment companies with variable capital (ICVCs) which are sometimes referred to as open-ended investment companies (OEICs).
A tangible item which can be bought and sold (e.g. sugar, wheat, coffee, gold).
A contract note is the legal record of a fund or equity trade. It confirms which asset was traded and when, alongside the number of units or shares involved and their price at the point the trade occurred.
Bonds issued by companies. They normally pay a fixed rate of interest and mature on a fixed date when the capital will be repaid. Bond prices fluctuate between issue and maturity.
The buyer or the seller in a financial contract or another party involved in the fulfilment of a contract.
The value of investments in currencies other than Sterling will change relative to Sterling due to changes in currency exchange rates, as well as movements in the prices of those investments.
