Interest rates for custody terms and conditions (offshore–SIG)
Where clients use SEI Investments – Guernsey Ltd (The Custodian) for custody services, The Custodian will pay credit interest to its Customers using the SEI Wealth Platform (SWP) at the following rates.
On Sterling balances:
Rate from 9 August 2024: 4.20%
Previous rates:
From 1 March 2024 to 8 August 2024: 4.45%
From 21 August 2023 to 29 February 2024: 4.35%
From 10 July 2023 to 20 August 2023: 4.10%
From 1 June 2023 to 9 July 2023: 3.60%
On U.S. Dollar balances:
Rate from 27 September 2024: 3.85%
Previous rates:
From 1 March 2024 to 26 September 2024: 4.35%
From 21 August 2023 to 29 February 2024: 4.30%
From 1 June 2023 to 20 August 2023: 4.05%
From 17 April 2023 to 31 May 2023: 3.80%
On Euro balances:
Rate from 27 September 2024: 2.00%
Previous rates:
From 1 March 2024 to 26 September 2024: 2.25%
From 1 October 2023 to 29 February 2024: 2.00%
From 21 August 2023 to 30 September 2023: 1.75%
From 10 July 2023 to 20 August 2023: 1.20%
From 1 June 2023 to 9 July 2023: 1.05%
Interest is calculated on a daily basis and is credited to investment accounts every month. The above rates quoted are subject to any charges which may be levied by your wealth or investment manager.
The Custodian will not pay any credit interest on balances in any other currency or pay credit interest in any currency to The Custodian’s Institutional Asset Management clients. The Custodian does not allow Customer cash accounts to be overdrawn, where overdrawn accounts occur the Custodian may at its discretion charge an overdraft rate at the appropriate Central Bank official interest rate.
In the event of a charge being incurred by the Custodian for holding a cash balance (a negative interest rate) in its client bank accounts, the Custodian reserves the right to pass such charges to the Customer.
Note that SIEL retains an element of the interest received from banks, custodians and credit institutions.
Important information
This information is provided by SEI Investments – Guernsey Limited, 1st and 2nd Floors, Elizabeth House, Les Ruettes Brayes, St Peter Port, Guernsey, GY1 1EW. SEI Investments – Guernsey Limited is regulated in Guernsey by the Guernsey Financial Services Commission (“GFSC”).