Make your uninvested cash work for you

At Saxo, you can now earn market rate interest on your uninvested cash in GBP, EUR and USD too. There's no lock-in period and your rate tracks the daily market rate.

Open account See interest rates

Market rates, updated daily
Our interest rates are updated daily, based on market conditions, so you don't have to wait for new rates announcements.
Interest on different currencies
Deposit in GBP or your currency of choice - you'll still earn interest on uninvested cash, whichever currency you prefer
Get higher rates with larger deposits
If the size of your deposit increases, you will earn more interest. With Saxo, you earn interest on your total deposit - there are no upper limits.
No lock-in period
Stay flexible and prepared for when the right investment opportunity comes along. At Saxo, there is no lock-in period to earn high interest rates.

Current rates

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Net free equity	Below 100,000 GBP	Above 100,000 GBP	Above 1,000,000 GBP	Above 10,000,000 GBP
GBP	+0.18% p.a	+1.68% p.a	+2.18% p.a	Bespoke Rates - contact your relationship manager
EUR	No interest.	+0.23% p.a.	+0.73% p.a.	Bespoke Rates - contact your relationship manager
USD	+1.09% p.a.	+2.59% p.a.	+3.09% p.a.	Bespoke Rates - contact your relationship manager

The above interest rates are indicative and GBP equivalents as the effective rate is decided by the daily market rate for the specific currency. Rates are calculated and accrued daily and paid on the first working day of the month. Full terms and condition for interest on deposits can be found here (27.12.2022)

How it works

At Saxo, you earn interest based on your net free equity. Generally speaking, your net free equity is the same as the cash in your account, but if you use sub-accounts or trade derivatives, your calculated net free equity can be different. That means the calculation of your earned interest can differ too.

Read more about net free equity here.

You can find an overview of the daily interest you have earned on the Account Page in the platform. Navigate to Historical Reports > Account Interest Details. Here you can see applied interest rates and amounts credited to your account for different periods.

If you have a negative cash balance, you will be charged negative interest based on the market rate, plus a mark-up. To read more about how the rate for a negative cash balance is calculated, click here.

The Sterling Overnight Index Average, abbreviated SONIA is the effective overnight interest rate paid by banks to borrow sterling overnight from other financial institutions. It is administered by the Bank of England.

The investment tools you need

With your new Saxo account, you take control over your investment no matter where and when. With our selection of award-winning platforms, you can easily invest in thousands of investment products from different devices. Execute your next great trade with SaxoTraderGO or build sophisticated strategies using several screens on SaxoTraderPRO—it all depends on how you want to invest.