This article will answer the following questions:
- What changes are being made to the interest rates on uninvested cash?
- How can I calculate the interest I will earn on my uninvested cash?
- What does this mean for me?
- What happens if my uninvested cash falls below the minimum threshold?
- Can I earn uninvested cash in multiple currencies?
- How often is interest calculated and paid?
- Who can I contact for further assistance?
What changes are being made to the interest rates on uninvested cash?
Starting from 1 May 2025, Saxo UK will implement new interest rates on uninvested cash held in your Saxo Account. The rates will vary based on your account tier, account currency, and the amount of uninvested cash you hold. Please refer to the table below for the new rates (per annum):
| Currency and Value | Account Tier | ||
| Classic | Platinum | VIP | |
| GBP 5000*+ | 1.5% | 1.7% | 2.0% |
| USD 5000*+ | 1.4% | 1.6% | 1.8% |
| EUR 5000*+ | 0.8% | 1.0% | 1.2% |
* You will earn interest only above GBP/USD/EUR 5000 (or equivalent)
If you hold uninvested cash in any currency other than GBP, USD, or EUR, you will no longer receive interest on those balances.
Interest rates will be updated based on changes in the benchmark rates *SONIA (GBP), SOFR (USD) and ESTR (EUR). Refer to Commissions, Charges and Margin Schedule (Saxo Bid/Ask Interest Rates) for additional information.
How can I calculate the interest I will earn on my uninvested cash?
You can find full details of our interest rates on deposits and calculate how much interest you can earn on your uninvested cash by visiting this link.
What does this mean for me?
For many clients, these changes will mean they are able to start earning interest on their uninvested cash, while others may earn less. We encourage you to explore the links provided to understand the impact on your Saxo Account.
Useful Links:
What happens if my uninvested cash falls below the minimum threshold?
To earn interest, your uninvested cash needs to stay above the minimum threshold of 5000 in GBP, USD, or EUR. If it dips below, you won't earn interest until you top it back up!
Can I earn interest on uninvested cash in multiple currencies?
You can earn interest on uninvested cash in GBP, USD, and EUR simultaneously, provided each meets the minimum threshold. It's a multi-currency win!
How often is interest calculated and paid?
Interest is typically calculated daily and paid monthly. Keep an eye on your account statements to see those interest earnings roll in!
Who can I contact for further assistance?
If you need any help or have any questions, please feel free to contact us. We value your relationship with Saxo UK and are here to assist you.