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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 debt/equity ratio is calculated by dividing a company's long-term debt by total shareholders' equity. It measures how much of a company is financed by its debtholders compared with its owners. A company with a lot of debt will have a very high debt/equity ratio, while one with little debt will have a low debt/equity ratio. Assuming everything else is identical, companies with lower debt/equity ratios are less risky than those with higher such ratios.
When the issuer of a bond does not maintain interest payments or repay the face value of the bond at maturity.
A defensive stock is a stock that is expected to offer more consistent dividends and earnings regardless of the state of the overall stock market. They can usually be identified by a constant demand for their offerings, products and services which people continue to buy or use, even when money is tight.
An institution that accepts deposits in the ordinary course of a banking or similar business.
A UK depository will include entities regulated in the UK such as a savings or commercial bank, a credit union, industrial and provident societies and building societies.
A depositary also has an important role in investor protection and is responsible for the safekeeping of the assets of certain funds.
Derivatives are financial products that derive their value from a relationship to another underlying asset. There are many types, with different risks and associated costs. They can be used in different ways to seek to manage risk, enhance returns or to speculate on market movements.
If the share price of an investment trust is lower than the Net Asset Value (NAV) per share, it is said to be trading at a discount. The discount is shown as a percentage of the NAV.
The process of fully or partially selling down an investment held by a fund.
The income arising from underlying stocks and shares that a fund pays at specific times.
The period during which income earned by a fund is accumulated before payment to investors.
A measure of an investment’s annual income payments (usually measured over the previous 12 months) expressed as a percentage of its price.
This is the dividends per share of the company over the trailing one-year period as a percentage of the current stock price.
A dividend is the distribution of some of a company's earnings to a class of its shareholders, as determined by the company's board of directors. Common shareholders of dividend-paying companies are typically eligible as long as they own the stock before the ex-dividend date.
Dividends may be paid out as cash or in the form of additional stock.
Some funds are dual priced, which means a separate buying price (quoted offer price) and selling price (quoted bid price) are set. The difference between these two prices is known as the spread.
The price you buy shares at (the offer price) reflects the buying price of the fund’s assets plus transaction costs associated with buying. The price you sell at (the bid price) reflects the selling price of the fund’s assets less the transaction costs associated with selling.
On a dual-priced fund, the offer price is higher than the bid price.
