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1 Year Pension Deposit (SIPP) 

1.25%

As part of your existing Self Invested Personal Plan (SIPP), our SIPP fixed term account gives you (or your financial adviser) more control over how you save for the future.

1 Year Pension Deposit (SIPP)

1.25%

Apply now

Download or request an application form to open your 1 Year Pension Deposit (SIPP).

What is the interest rate?

1.25% Gross / AER. Interest is calculated daily and paid annually to your nominated bank account.

*AER stands for Annual Equivalent Rate. It illustrates what the interest rate would be if interest were paid and added each year. Gross PA means Gross Per Annum, i.e. before tax is deducted (at the legal rate).

What would the estimated balance be after 12 months based on £1,000 deposit?

The rate is fixed for the whole term, so you can calculate the actual amount of interest you'll earn annually and at maturity, based on the amount you deposit.

Initial deposit  Interest earned
after 12 months 
Balance after
12 months
 
£1,000.00  £12.50  £1,012.50 
£10,000.00  £125.00  £10,125.00 
£50,000.00  £625.00  £50,625.00 

These amounts are for illustration purposes only, the minimum deposit on this product is £25,000

Calculate your balance after 12 months

How do I open and manage my account?

It's easy to apply by post, you can pay money into your account by cheque or electronic bank transfer (details are on the application form). Managing your account is easy too. Simply call or write to us and we'll help with any questions or instructions.

How much can I deposit?

To open a Pension Deposit (SIPP) you'll need to deposit a minimum of £25,000. The maximum account balance is £2 million.

Can Close Brothers Savings change the interest rate?

No. Your rate is fixed, so it will stay the same for the entire term of your savings account. It means you'll always know exactly how much interest you'll earn at the end of the term.

Can I withdraw money?

You can't take money out of our Pension Deposit (SIPP) account, so you need to be sure you're happy to leave your money in the account until the end of the term (maturity). At that time, you can choose to reinvest your funds with us or have the money paid into your nominated bank account.

What happens at maturity?

We'll send you a letter 14 days before the end of the fixed term, letting you know what your options are. You can instruct us to reinvest your money into another account, up to at least one day before the maturity date, or do nothing and we'll pay your funds into your nominated bank account.

Can we help?

If you'd prefer to speak to someone directly or have any questions, please get in touch.

Call us on

020 3857 3050

Lines are open

9am - 5pm, Monday to Friday (excluding UK bank holidays)

Alternatively email us at: savings@closebrothers.com

Financial Services Compensation Scheme logo

Financial Services Compensation Scheme (FSCS)

Your eligible deposits with Close Brothers Savings are protected up to a total of £85,000 by the UK's Financial Services Compensation Scheme. Any deposits you hold above this limit are unlikely to be covered. For further information visit www.fscs.org.uk.