We’re changing how we charge for money held in your cash accounts on the advised platform
Here’s what it could mean for you:
- For cash held on the Aviva Platform, we will retain a margin of the interest received depending on the rate of interest. This does not apply to our Onshore Bond, as no interest is paid on that.
- We will no longer apply the Aviva charge to cash held on your Aviva Platform.
- The Aviva charge will only apply to the amount you hold in your investments.
- Aviva only retains a margin where the interest rate received from the bank is positive. Where the interest rate is zero or negative, no margin is applied.
Why we’re updating our terms and conditions
We’ll soon be making changes to how we charge for money held in your cash accounts on the advised platform with our:
- Pension Portfolio
- ISA Portfolio
- Investment Portfolio
- Onshore Bond
- Junior ISA*
By making this change, Aviva will align with the wider market, and our charging approach will be consistent with most other platforms. This change means we can keep investing in the platform and deliver continued improvements to our products and services. We remain committed to managing your cash across a range of banks to secure competitive interest rates on your behalf.
*There’s currently no Aviva charge on the Junior ISA Portfolio and this won’t change. However, as part of our approach to managing cash consistently, we’ll retain a margin from interest paid by the bank on cash balances.
What’s changing?
Changes to cash charges and interest
Going forward, we’re removing the Aviva charge for money held in your cash account. Instead, we’ll retain a percentage of the interest received on it. You’ll still be eligible to earn interest on your cash, but this will be at a lower rate and will depend on the interest rate at the time.
Once we make the change, you’ll always be able to see exactly what interest rate you’re getting and what we’re retaining on our cash interest factsheet on our website.
Frequently asked questions
When will Aviva be making the change?
These changes will apply no earlier than the 17th August 2026.
Will I be paying more?
If you hold cash, the interest you receive will reduce because we’ll retain a margin from the interest received by the bank. The size of the margin will vary depending on interest rates at the time. Full details will be available in our cash interest factsheet.
The overall return on cash will be lower as the reduction in interest will currently be greater than the reduction in Aviva charge.
This doesn’t apply to our Onshore Bond, as no interest is paid on cash held in that product
Will I still earn interest on cash?
You’ll still be eligible to earn interest on your cash, but this will be at a lower rate and will depend on the interest at the time.
I keep a large amount of cash in my investment product, what should I do?
It can be convenient to hold some cash in your account, but platform products are not designed to hold large amounts of cash and are designed as investment products.
If you’re not sure what to do with your cash, think about speaking with a financial adviser. If you don’t have one, you can get financial advice with us if you have £300,000 or more in total across all your pension and investment savings, there will be a charge for advice. Find out more at Aviva financial advice.
Alternatively, you can get advice about your money and pensions through Unbiased.
How will I know that interest has been applied correctly, and where can I check what rate I've received?
Your statements will show the amount of interest you have received each month as usual. The amount we keep will depend on the interest rate. You’ll be able to see what this is, along with the interest rate we’ll pay you, in our cash interest factsheet.
How is the interest rate on my cash set?
The interest you receive is worked out using a tiering system. This means we look at the total interest rate received on your cash and then divide it into tiers. Each tier has a different percentage that you receive and a different percentage that Aviva retains:
| Percentage of interest earned on your cash | Portion of interest earned that you will receive | Portion of interest earned that Aviva will retain |
| On the first 1.5% | 50% | 50% |
| On anything over 1.5% up to 3% | 75% | 25% |
| On anything over 3% | 90% | 10% |
Example of how this works
If you had £1,000 in cash earning 3.05% interest, it would generate £30.50 in interest, over a year.
The table below shows how this interest is distributed*:
| Percentage of interest earned on your cash | Interest amount | How it is shared |
| On the first 1.5% | £15.00 | You: £7.50 Aviva: £7.50 |
| On anything over 1.5% up to 3% | £15.00 | You: £7.50 Aviva: £3.70 |
| On anything over 3% | £0.50 | You: £0.50 Aviva: £0.00 |
| Total | £30.50 | You: £19.30 Aviva: £11.20 |
This means that if 3.05% interest is earned on your cash, you will receive 1.93% and we will retain 1.12%.
*This example is for illustrative purposes only
What happens if the interest rates fall to zero or become negative?
If the interest rate received from the bank is zero or negative, we don’t retain a margin.
Still have questions?
Contact us on 0800 404 9942
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