Investing platform IG has a brand new offer to help you March into spring. New UK customers can get an enticing 5% interest on idle cash for 12 months when you join the platform using code JUNEINTEREST5 and invest at least £2,000 by 30 June. Read our “Need to knows” to find out the rest of the details.
After 12 months you would have about £5,250.00.
| Month | Amount |
|---|---|
| 1 | £5,020.37 |
| 2 | £5,040.82 |
| 3 | £5,061.36 |
| 4 | £5,081.98 |
| 5 | £5,102.69 |
| 6 | £5,123.48 |
| 7 | £5,144.35 |
| 8 | £5,165.31 |
| 9 | £5,186.35 |
| 10 | £5,207.48 |
| 11 | £5,228.70 |
| 12 | £5,250.00 |
Capital at risk.
The offer is available to anyone who opens a stocks and shares ISA, SIPP or general investment account (GIA). But as you’d expect with such an attractive rate, there are some conditions to be aware of:
Let’s go through those one-by-one.
The rate applies to new UK customers, who use code JUNEINTEREST5 to open a stocks and shares ISA, SIPP, or a GIA by 30 June. You can earn 5% interest on all uninvested cash within these accounts. Existing account holders could also be eligible if they haven’t made their first trade yet.
To earn your 5% boosted interest rate all the way until this time next year, you need to invest £2,000 by 30 June. Then, you just need to maintain an average invested balance of at least £2,000 throughout the next 12 months. If the value of your investments drops below £500 you will no longer be eligible for the boosted interest rate, meaning any interest earned on your cash balance will revert to the standard rate.
Provided you’ve made enough qualifying investments, any other money held in cash will earn 5% AER interest between 1 July until 30 June 2027 (an average investment position of at least £2,000 must be kept open during this time), with interest credited monthly into your account. The 5% bonus rate is the standard rate plus 1.25%, so from July 2027, it reverts to IG’s standard rate – currently 3.75% AER.
There’s a cap, and it’s £20,000. So, assuming you deposited the maximum amount before 30 June, the most you could earn during the promotional period would be around £1,023. Interest is calculated on daily balances throughout the calendar month, and interest payments are made in the following month.
When you buy shares in a company or a fund, that value (not your uninvested funds) could go up or down, so you may get less (or more) than what you put in with your £2,000 investment.
GO TO IG'S SITECapital at risk.
| Uninvested cash at beginning of July | Value at end of June 2027 (approx.) |
|---|---|
| £1,000 | £1,051 |
| £5,000 | £5,256 |
| £10,000 | £10,512 |
| £15,000 | £15,767 |
| £20,000 | £21,023 |
One of the reasons for IG offering this rate is to introduce more people to the world of investing (specifically with IG).
It’s a loss-leader for IG, and it’s certainly an attention grabbing rate – coming at a time when interest rates are trending downwards after a decent stint of being pretty high. In return for giving that boosted rate, IG gets a chance to educate savers about investing.
All in all, the interest rate offered by IG is great if you’re looking for short-term boosted interest rate on a balance of less than £20,000.
However, you need to make a sizeable investment to qualify, so you need to jump through some hoops and understand the risks of investing, IG isn’t a bank. You do need to make or have an open investment for the full period, so ensure you’re informed on what you want to invest in, as well as being aware of the potential fees attached.
It’s also important that you carefully look through IG's T&Cs yourself before opening an account and investing.
GO TO IG'S SITECapital at risk.
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