Cash interest rates
Interest is paid on cash balances in your account. The interest rates vary depending on the type of account and products that you hold.
AER is shown in the tables below. This stands for Annual Equivalent Rate – this notional interest rate illustrates what you would get if interest was applied across the whole year on cash held in each product for a period of one year.
All interest rates are variable and are correct as at 1 October 2011.
WealthManager+
Interest on cash held in a J.P. Morgan WealthManager+ account is calculated daily and paid monthly as follows:
| Product in which cash held | Gross p.a. % | Net % | AER % |
|---|---|---|---|
| Cash account | 0.35% | 0.28% | 0.35% |
| Cash ISA | 0.35% | 0.35% | 0.35% |
| Stocks and Shares ISA - uninvested cash* | 0.35% | 0.28% | 0.35% |
| SIPP | 0.35% | 0.35% | 0.35% |
| Investment Account | 0.35% | 0.28% | 0.35% |
Classic Account
Interest on cash held in the Classic account is calculated daily and paid six-monthly as follows:
| Product in which cash held | Gross p.a. % | Net % | AER % |
|---|---|---|---|
| Cash ISA | 0.15% | 0.15% | 0.15% |
| Stocks and Shares ISA - uninvested cash* | 0.15% | 0.12% | 0.15% |
| Investment Account | n/a | n/a | n/a |
* Interest on uninvested cash in a stocks and shares ISA is paid net of 20% tax. This tax must not be included in your tax return as there is no additional income tax payable for higher and additional rate taxpayers and the tax cannot be reclaimed by UK individuals who do not pay tax.