IG Launches 8.5% Interest Offer Amid Falling UK Rates
IG Group has launched a market-leading 8.5% AER variable interest rate for new UK customers. The offer comes just a day after the Bank of England cut its base rate by 25 basis points to 4.25%. Other providers are reducing interest rates, but IG is doubling its payout for eligible investors.
What IG is Offering?
IG is offering 8.5% AER variable interest on cash holdings for new UK customers. Accounts opened and funded by May 31 are eligible. It covers varied account types, including Individual Savings Accounts (ISA), Self-Invested Personal Pensions (SIPP), and General Investment Accounts (GIA). The interest rate is valid until August 31. After that, customers will earn IG’s standard variable interest, currently 4.25% AER.
Eligibility Criteria
Customers must open an eligible IG account — ISA, SIPP, or GIA — and make an initial investment by May 31. They must also maintain an open investment position at the end of each month: June, July, and August. Existing IG users can access the offer too, but only if they have not yet placed their first trade and do so by the May 31 deadline.
Benefits for Users
This offer will have these benefits:
Higher Returns on Idle Cash
Users usually keep unused funds in their accounts. Now, they can earn meaningful returns on this idle cash.
Short-Term Earning Opportunity
The offer is time-bound and ends on August 31. Investors who act quickly and meet the criteria can earn between £520 and £1,301 in less than four months.
Attractive Entry Point Without Market Risk
Those hesitant to enter volatile markets can park cash and earn high interest. Also, they can delay direct exposure to market movements.
Encouragement to Stay Invested
Users must hold an open investment position at month-end through June, July, and August to maintain eligibility. It encourages staying engaged in the market.
Benefit Without Trading Fees
IG recently removed commissions on shares. Investors can open positions cost-effectively.
About IG Group
Stuart Wheeler Founded IG Group in 1974. IG Group is a global online trading and investment services provider. The company offers access to approximately 19,000 financial markets. It serves over 240,000 clients worldwide. IG Group promotes financial freedom through its innovative trading platforms and educational ecosystem. IG Group recently acquired UK-based neobroker, Freetrade.
Summing Up
IG’s 8.5% interest offer gives new investors a high-yield option in a declining-rate environment. The promotion targets those seeking short-term returns on idle cash.
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