PLUM INTEREST
EARN UP TO 3.94% VAR*

Plum Interest allows you to invest in bonds issued by the government. It also 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 add money to your Plum Interest Pocket, you'll be charged a yearly fee depending on your Plum subscription and based on the daily balance that you hold in the fund. Keep in mind that rates shown in the Plum app are already net of fees.

We waive the annual fee for Plum Max subscribers, so they don't have to pay it.

Plum Boost subscribers are charged an annual service charge fee of 0.19% by Plum, based on the daily balance held in the fund.

Plum Plus subscribers are charged an annual service charge fee of 0.47% by Plum, based on the daily balance held in the fund.

Plum Basic customers without a subscription are charged an annual service fee of 0.93% by Plum, based on the daily balance in the fund.

All customers must pay a 0.10% 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.

Plum's service fee, if any, will be calculated daily based on the balance you hold in your fund and collected monthly.

Learn more about fees for investing with Plum.

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

Money placed in Plum Interest is invested in units of a Qualifying Money Market Fund (QMMF), rather than held as cash on deposit. 

These units are protected under the FCA’s CASS rules, also known as “Safe Custody” when it comes to assets. These rules mean they are placed into a separate, segregated account away from the fund provider’s own assets or Plum’s own assets.

Therefore, in the unlikely instance where Plum, the fund manager, or the custodian goes insolvent, your funds would be returned to you, unless the fund manager or custodian had breached Safe Custody rules fraudulently. 

In that scenario, your Plum Interest funds would be returned through the provisions of FSCS protection up to £85,000. FSCS would not cover a loss that comes from a fall in the market value of the QMMF units.

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 in each market is similar to the base rate set by the central bank (the Bank of England in the UK), 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.

Yes, firstly, you must move the money into your Plum Primary Pocket. From here, you can then withdraw to your linked bank account.

To do this, tap the ‘Pockets’ menu button, then the ‘Plum Interest’ tab and finally ‘Move’. We’ll show an estimated settlement date in the app when you request a movement. Movements are typically processed within 1 working day, with sell orders settled Mon–Fri at around 09:30 a.m. (UK time).

Once your movement has been processed, the money will be credited to your Primary Pocket balance. You can then withdraw to your bank in the same day.

There are no limits or additional fees to withdraw from Plum Interest. And we plan to introduce instant withdrawals soon!