Sapphire SIPP fixed term deposits

Our Sapphire SIPP product range provides depositors with a guaranteed return on pension savings.

Choose from a fixed term deposit that suits your SIPP deposit requirements and benefit from our consistently competitive rates of interest.

SIPP fixed term deposit accounts

SIPP is a Self Invested Personal Pension.

Please note, you must hold an existing SIPP pension portfolio to be eligible for our Sapphire SIPP deposit products.

By choosing fixed term deposits as part of a SIPP portfolio, you (or your adviser) retain complete control as to how you save for the future.

Whether you are close to retirement and looking to grow a higher percentage of your SIPP in a low risk cash deposit, or you are in the earlier stages of retirement planning and want to lock a percentage of your pension savings away as a building block for years to come, we can support your SIPP deposit requirements.

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Sapphire SIPP fixed term deposit accounts

9 Month 1 Year 18 Month 2 Year 3 Year 4 Year 5 Year
Gross / AER*
Gross / AER*
Gross / AER*
Gross / AER*
Gross / AER*
Gross / AER*
Gross / AER*

These products are a limited offer, subject to availability and may be withdrawn at any time without prior notice.

*AER stands for Annual Equivalent Rate and illustrates what the interest rate would be if interest were paid and added each year. The gross rate of interest is the rate payable before the deduction of tax at the rate agreed by law.


Sapphire SIPP

Summary box

To comply with regulations issued by the Financial Conduct Authority (FCA), we are required to show a cash illustration based on a £1,000 deposit amount. This is for illustration purposes only, the minimum deposit on this product is £25,000. To calculate the interest you will receive based on your specific deposit amount, please select the Personal illustration tab.

What is the interest rate?

Please note, accrued interest is paid annually and at maturity to the nominated bank account.

Product term Annual Equivalent Rate (AER)* Example amount Estimated balance after 12 months
9 months 0.95% £1,000.00 £1,009.50
1 year 1.65% £1,000.00 £1,016.50
18 months 1.70% £1,000.00 £1,017.00
2 years 1.80% £1,000.00 £1,018.00
3 years 1.85% £1,000.00 £1,018.50
4 years 1.95% £1,000.00 £1,019.50
5 years 2.20% £1,000.00 £1,022.00

* Annual Equivalent Rate illustrates what the interest rate would be if interest were paid and added each year.

Customer deposit interest calculator

How much would you like to deposit?


Select the applicable product term

How the product works

How the account works

1. Your funds are deposited into the Sapphire SIPP fixed term deposit account at the advertised rate on the date the application is received

How the account works

2. Your funds are fixed for the agreed term, with interest paid annually (excluding 9 month term) and at maturity (all terms) to your nominated SIPP bank account

How the account works

3. At maturity, we will write to the Scheme Administrator / Trustee giving notification of the options available at that time

What you need to know 

  • We will only accept instructions on the account from the SIPP Administrator/Trustee
  • Choose from a 9 month, 1 year, 18 month, 2 year, 3 year, 4 year and/or 5 year fixed term deposit
  • Save from £25,000 to £2,000,000 per account
  • Interest is calculated daily and paid annually (excluding 9 month term) and at maturity (all terms)
  • No early withdrawals allowed
  • Total amount deposited must be received by us in one single payment by electronic transfer
  • No interest rate tierings
  • These products are a limited offer, subject to availability

If you have a query about our Sapphire SIPP fixed term deposit accounts, please call us on 020 3857 3050.

What do you need to know

Apply now



 Read our General Terms and Conditions and Privacy Policy.



 Download, complete and sign the Sapphire SIPP application form.



 Post the completed application form with the required documentation to: Close Brothers Savings, 4th floor, 10 Crown Place, London, EC2A 4FT


General Terms and Conditions

This is our standard customer agreement upon which we intend to rely. For your own benefit and protection you should read these terms carefully. If you do not understand any point please ask for further information. Copies of the General Terms and Conditions are available on this website or by telephoning us on 020 3857 3050.

For full details of how we collect and process your data, please read our Privacy Policy

Sapphire SIPP application form

Frequently asked questions

Q. What documents need to be sent with the Sapphire SIPP application?

A. We require a completed Sapphire SIPP fixed term application form, Scheme Approval letter and current signatory list of the Authorised Officials, together with a copy of a recent bank statement within the last 3 months confirming the nominated SIPP Account for repayments. If a Scheme Approval letter is unavailable, please provide a certified HMRC Confirmation of Registration status screenshot.

If the Scheme Approval letter and signatory list have previously been provided, we do not need to receive these documents again unless there is a change to either.


Q. Who has to sign the Sapphire SIPP application form?

A. The application form is to be signed by the Scheme Administrator / Trustee.


Q. How long does it take to open the Sapphire SIPP deposit?

A. The account will be opened within 10 working days of the receipt of the completed application form and cleared funds.


Q. Once a Sapphire SIPP deposit is open for a member and they want an additional Sapphire SIPP fixed term deposit, do they need to complete a new application form?

A. No. The completion of a new application form is not required to apply to open an additional Sapphire SIPP fixed term deposit account. We do however require a signed and completed FSCS Information Sheet and Exclusions List for each additional Sapphire SIPP deposit. For more information, click here.


Q. How do I know the deposit has been set up?

A. A confirmation of the deposit will be posted to the SIPP Administrator / Operator within a few days of funds being received and the account setup.


Q. What happens at maturity?

A. Four weeks prior to maturity, a letter will be sent to the SIPP Administrator / Operator giving notification of re-investment rates available at the time. At maturity, if there is no instruction received from the SIPP Administrator / Operator, funds will be automatically re-paid to the member's nominated SIPP bank account.


Q. Can funds be withdrawn before the deposit matures?

A. You may not withdraw funds or deposit additional funds before the fixed term deposit matures. Please see the Additional Conditions on the application form for exceptions (death of a member, pension sharing order).


Q. Can you provide information to the member's Financial Adviser on their SIPP cash deposit held with Close Brothers?

A. Yes, provided we have received authorisation from the SIPP Administrator / Operator we are able to provide details of the fixed term deposit to the member's Financial Adviser.

We will only accept instructions on the account from the SIPP Administrator / Operator.


Q. Will you still accept SSAS fixed term cash deposits?

A. SSAS fixed term deposits will still be accepted via our Sapphire SSAS application form


Q. I currently have a 12 month SIPP deposit with Close Brothers that is due to mature shortly. What are my options?

A. On the maturity of your current SIPP deposit account, you can have funds repaid or take out a new Sapphire SIPP fixed term deposit available at the time of maturity.

A new Sapphire SIPP application form will need to be completed to open the account.


Q. What is pension freedom?

A. From 6 April 2015, anybody over the age of 55 can withdraw their pension as a cash lump sum without having to buy an annuity or take drawdown. Please note, this does not apply to the state pension which is currently payable at 65 for men and 62 for women.

Customers are not able to withdraw their fixed term deposit within a SIPP deposit account until maturity. 'Pension freedom' only applies if a customer's investments or deposits offered access to funds in line with their original terms and conditions.

Members of the FSCS

Your eligible deposits with Close Brothers Limited (and our associated trading styles of Close Brothers Treasury and Close Brothers Savings) are protected up to a total of £85,000 by the Financial Services Compensation Scheme ('FSCS'), the UK's deposit protection scheme. This limit is applied to the total of any deposits you have with the following: Close Brothers Savings and Close Brothers Treasury. Any total deposits you hold above the £85,000 limit between these brands are not covered.

Read more here 

If you have an enquiry call us on: 020 3857 3050