Get a return that aims to track the central bank rate

Introducing Plum Interest with a variable up to 3.62%* easy access on your cash

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*Variable annual percentage projection correct as at 21/06/2024. Premium plan rate. 3.42% rate for Basic and Pro customers. Projected yield is shown after fees. A projection isn’t a reliable indicator of future performance. Plum is not a bank. Capital at risk if you invest. T&Cs apply.

Don’t let your money go idle

Is your money 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. It’s easy access, with no minimum deposit and returns are paid daily.

How it works

Open Plum Interest

Your money is held in an interest-earning fund holding government-backed assets, making it low risk with stable returns.

Get returns daily

With daily returns, your progress is updated regularly instead of just once a month or even once a year.

Easy access

You can continue using your money as normal with 1-business day withdrawals, giving you even greater control over your money.

It’s time to get growing

Rising interest rates are great for savers, but only if banks choose to pass it on to you. Instead of waiting around, you could be earning a rate much closer to that of the Central Bank, with Plum Interest. Keep in mind that past performance is not a reliable indicator of future results.

Fund tracks the Central Bank rate

Plum Interest

Plum Interest is held in the BlackRock ICS Euro Government Liquidity Fund. This graph above shows the fund performance over the past 5 years, minus Plum fees. Remember that past performance is not a reliable indicator of future results. Plum is not a bank. Plum Interest is an investment product, so your capital is at risk. To learn more you can visit the Blackrock site.

Plum Interest

Is it safe?

Your money in Plum Interest is held in a fund containing short-term government-backed loans and bonds. It’s considered low risk, and provides stable returns in comparison with other investment products.

The 3.42% variable annual return we show is a net rate. That means it already includes the annual fee of 0.30%, based on the daily balance that you hold in the Plum Interest fund, and you know exactly what you're getting. Learn more about our fees here.

Common Questions

Plum Interest allows you to invest in bonds issued by the government. The fund makes short-term loans to robust companies, who can show a strong track record, in exchange for government bonds.

That means those assets are backed by the government, and you can earn a share of any interest earned, with less risk than other types of investments.

If you contribute money by adding it to your Plum Interest Pocket, you’ll be charged a yearly fee, based on the daily balance that you hold in the fund.

For Premium subscribers this annual fee is just 0.10%, because we waive our usual 0.20% service charge, but for all other customers this total annual fee is 0.30%.

The remaining 0.10%, which all customers pay (including Premium subscribers), is the fund management fee for BlackRock. The fund value is automatically updated to reflect BlackRock’s fee, so you won’t see it as a separate charge.

Where applicable, Plum’s service charge fee is collected from your Primary Pocket on the first day of each calendar month.

Learn more about fees for investing with Plum.

The fund manager for Plum Interest is BlackRock, an investment company with global presence.

Plum is a partner of Modulr Finance B.V., authorised and regulated by the Central Bank of the Netherlands. ) Any money invested with Plum Interest is protected by the Financial Supervision Act.

Your money is safeguarded by a regulated custodian. So if anything should happen to Plum (or our fund provider), your assets will be passed back to you and can’t be touched by anyone else.

If the custodian fails or in the unlikely event that Plum defaults, customers would be paid back through a safeguarding account which is protected by law. Any money owed to Plum customers would be paid from the safeguarding account after costs have been settled.

This is a projection of the rate at which your money could grow over the next year. To keep things simple, we quote the net yield (after fees are applied).

The projection is based on the 1-day yield, which means it takes the previous day’s return and scales this to reflect what the fund could earn over a full calendar year. The actual rate offered is similar to the base rate set by the central bank, which can fluctuate over time.

On the scale of investment risk, this fund can be considered amongst the lowest available. That’s because it invests in high quality assets, like government bonds, and only loans money on a short-term basis to reputable companies and governments.

There is a risk that the forecast of projected yield might not be fulfilled over a longer period e.g. if the central bank lowers its base rate over time. But this fund is designed to transact at a constant price, so you shouldn’t get back less than the initial principal you invested, in the short term.

You can withdraw money from your Plum Interest at any time by tapping the ‘Save’ menu button, then tapping the ‘Plum Interest’ tab and then clicking ‘Withdraw’ from the Plum Interest menu with no limits or fees. Withdrawals are paid within 1 working day (and Instant Withdrawals are coming soon).

If you have any other questions you can visit the full FAQ.

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