Plum Interest is an innovative way to earn interest on your money. If your money is sitting in a current account, or being eaten away by inflation in a low-interest account, it might be time to switch to Plum Interest. The money is always accessible, with no minimum deposit and returns are paid daily.
How does it work?
With Plum Interest your money is held in a money market fund (MMF) managed by Blackrock. This MMF mostly invests in the safest asset types available, like short-term government loans. The fund then earns interest on these debts, which is closely linked to the Bank of England base rate, and passes a share of that interest on to you.
Plum Interest offers up to 5.15% VAR (variable annual rate) in the Premium plan and 5.00% in the Basic, Pro, and Ultra plans. The interest rate is variable which means that it can fluctuate over time according to the market conditions.
The interest for Plum Interest is added to your overall balance, on a daily basis, according to the performance of the market.