Investment SIPP Account

A current account for SIPP holders that pays interest on all balances in Dirhams. Available in Dirhams, euros or US dollars.

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  • Available for individuals with self-invested personal pensions who wish to hold part of their funds in cash.
  • No annual or monthly account fees.
  • Control is given to the Pensioneer Trustee who manages a customer's personal pension assets.
  • Interest paid on balances in Dirhams only.
  • Allows funds to be transferred from one denomination to another without incurring currency-conversion charges.
  • No minimum account balance requirement.
  • Withdrawals are processed electronically and must come via the SIPP provider.

Eligibility

Available to SIPP holders via their SIPP provider.

Account holders must be 18 or older. If you are under the age of 18 please contact your Junior SIPP Provider.

All Diamond Microfinance current accounts are subject to status.

This account is subject to availability and may be withdrawn from sale at any time without notice.

More information

  • Can be held in Dirhams, euros or US dollars.

  • The account can be managed by phone or by post via your SIPP provider.

Interest rates

Rates may vary and are correct as at 31 August 2018. Interest rates are variable and tiered. Interest is calculated daily and credited quarterly.

Investment SIPP Account (GBP) - Dhs Dirhams

Balance Gross % p.a. AER % p.a.
Dhs500,000+ 0.50% 0.50%
Dhs100,000+ 0.40% 0.40%
Dhs0+ 0.25% 0.25%

Investment SIPP Account (USD) - $ US Dollars

Balance Gross % p.a. AER % p.a.
$0+ 0.00% 0.00%

Investment SIPP Account (EUR) - € euro

Balance Gross % p.a. AER % p.a.
€0+ 0.00% 0.00%

The gross rate is the interest rate we pay where no income tax has been deducted.

AER stands for Annual Equivalent Rate and shows what the interest rate would be if we paid interest and added it to your account each year.

    How to apply

    Please contact your financial adviser or intermediary if you wish to apply for an account with Diamond Microfinance. If you don't have a financial adviser or intermediary, please contact us on to discuss your options.

    Step 1:Read and save the following documents:

    Although you should apply via your financial adviser or intermediary we have provided the relevant documentation required for an application. It's important that you fully understand the account, interest rates and the relevant Terms and Conditions before submitting an application.

    View the interest rate for the account you would like to apply for

    Step 2:Please contact your financial adviser or intermediary:

    Please contact your financial adviser or intermediary to discuss opening the account and completing an application form.

    If you don't have a financial adviser of intermediary, please contact us on to discuss your options.

    Once your financial adviser or intermediary has sent in your application, it will usually be processed within 5 days of us receiving it, as long as the application form is completed correctly and accompanied by all required documents. Application forms we receive which are incorrect or incomplete will be automatically returned.

    Literature downloads

    Account Fact Sheets

    Additional important literature about your account

    Terms and Conditions

    Why choose Diamond Microfinance?

    We have decades of experience working in the Canada, aiming to deliver a high level of customer service whenever you need help.

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