Products featured in this article are independently selected by This is Money’s specialist journalists. If you open an account using links which have an asterisk, This is Money will earn an affiliate commission. We do not allow this to affect our editorial independence.
Investment platform Interactive Investor has extended its £200 pension cashback deal until the end of October.
It was due to end on 30 September, so investors thinking about picking up a bonus for transferring their self-invested personal pension now have more time to act.
Deals like this crop up regularly as investment platforms tussle for investors’ money by offering cash bungs that can boost a portfolio.
But whether they’re worth taking usually hinges on the amount you need to open with or transfer to qualify for the cash – to get a good deal, you often need a large pot.
Interactive Investor’s deal* is very achievable though. To get the £200 from Interactive Investor you need to open a Sipp or transfer one with at least £15,000.
Currently, Hargreaves Lansdown offers up to £200 in John Lewis vouchers when opening or transferring a stocks and shares Isa or Sipp – this could be attractive if you have an Isa pot instead.
> Find out more about the Interactive Investor Sipp deal*
Cashback: Deals like this give you more to invest
Interactive Investor: Flat fees make it a solid option
Cashback is worth considering when you’re already thinking about opening a new account or transferring an existing one.
However, you should think carefully about whether the investment platform is right for you before going ahead.
Make sure you check all the terms and conditions of the deal and consider whether you’ll lose any valuable benefits when switching out of an existing pension.
Interactive Investor is a good option for keeping costs low as your pot grows, because it charges flat fees rather than fees as a percentage of your investments. Read more in our Interactive Investor review.
If your pot grows by £10,000 over a year, you’ll generally still be charged the same – making it easier to know where you stand.
However, other investment platforms may stand out more to you, whether it’s because they have no account fees at all (read our reviews of Trading 212 and InvestEngine) or they don’t charge for fund dealing (Fidelity, Hargreaves Lansdown).
It all depends on the type of investor you are – read more in our guide to the best investment platforms.
> More details about Interactive Investor’s Sipp*
SAVE MONEY, MAKE MONEY
Sipp cashback
Sipp cashback
£200 when you deposit or transfer £15,000
4.51% cash Isa
4.51% cash Isa
Trading 212: 0.66% fixed 12-month bonus
£20 off motoring
£20 off motoring
This is Money Motoring Club voucher
Up to £100 free share
Up to £100 free share
Get a free share worth £10 to £100
No fees on 30 funds
No fees on 30 funds
Potentially zero-fee investing in an Isa or Sipp
Affiliate links: If you take out a product This is Money may earn a commission. These deals are chosen by our editorial team, as we think they are worth highlighting. This does not affect our editorial independence. Terms and conditions apply on all offers.
#Interactive #Investor #EXTENDS #Sipp #cashback #deal #worth
