Charges and cash interest rate
We make the charges as clear and transparent as possible, so you can go in to investing with your eyes wide open.
What are the charges?
Zurich Portfolio charge
You’ll pay a percentage charge based on the value of your accounts/products within your Zurich Portfolio. This charge doesn’t apply to the Cash Account or cash held in a Zurich Stocks and Shares ISA. If you want to find out more about the Cash Account, take a look at Zurich Portfolio.
The charge for Zurich FutureYou customers is:
- 0.40% a year on the first £499,999.99
- 0.35% a year on amounts over £500,000
Here’s an example to bring it to life:
If you had a Zurich Portfolio value that remained at £10,000 (excluding cash held in the Cash Account or in the Stocks and Shares ISA) on every day for a complete year, the yearly charge would be: 0.40% x £10,000 = £40.
The amount is deducted monthly and is proportionate to the value of each account you hold.
Ongoing fund charge
This is included in the fund price and is made up of the annual fund management charge and fund expenses. The latest ongoing fund charge can be found on each fund’s factsheet.
Interest on cash held
- We keep a proportion (currently 0.10% each year) of the interest we receive from our banking partners, and pass on a lower rate to you.
- However, if the interest rate is 0.10% or less, you will not receive any interest.
- And, if the interest falls to a negative rate, we’ll pass this on to you which means you’ll be charged for holding cash.
Retirement Account ongoing charge
If you start a Zurich Retirement Account, you’ll currently pay £75.00 each year. A charge of £18.75 is taken every quarter in arrears to cover this.
If you use Zurich Advice Solutions, you’ll agree with them what you’ll pay for using their service. You can find more information in ‘Your guide to Zurich Advice Solutions’
Get the nitty gritty
You can read more about how and when these charges are calculated and taken in the Zurich Portfolio Terms and conditions.
Interest on cash held
You can hold cash in your accounts although this may not be the best thing to do, as charges and inflation could outweigh the interest you receive.
Your cash will earn a variable rate of interest, calculated daily from the date we receive it, and will be added to your account on the first business day of each month.
Rates as at 01/01/2017 (after charges)
|Account name||Interest rate||AER*||Notes|
|Zurich Cash Account and cash held in your accounts||0.0%||0.0%||Interest paid on cash in a Zurich Stocks and Shares ISA and Zurich Retirement Account is exempt from income tax.|
*AER stands for Annual Equivalent Rate and shows that the interest rate would be if interest was paid and added each year.