Fixed Deposit

Fixed Deposits

SBI FIXED DEPOSIT

Instant Access Savings Account
  • Earn a high rate of interest
  • Deposit for up to a period of 5 years
  • Minimum investment of £10,000 or US $10,000 or €10,000. There is no minimum investment
    for existing customers who re-invest their maturity proceeds
SBI Fixed-Deposit Rates for GBP deposits
Period Gross Rate
Monthly interest
Gross Rate
Maturity/Annual interest
AER
One Year 1.69% 1.70% 1.70%
Two Years 2.08% 2.10% 2.10%
Three Years 2.32% 2.35% 2.35%
Five Years 2.86%
2.90%
2.90%

SBI Fixed-Deposits - for USD Deposits
Period Gross Rate
Monthly interest
Gross Rate
Maturity interest
AER
One Year Not Available 1.85% 1.85%
Two Years Not Available 2.15% 2.15%
Three Years Not Available 2.40% 2.40%
Five Years Not Available
3.10% 3.10%
SBI Fixed-Deposits - for Euro Deposits
Period Gross Rate
Monthly interest
Gross Rate
Maturity interest
AER
One Year Not Available 1.45% 1.45%
Two Years Not Available 1.65% 1.65%
Three Years Not Available 1.90% 1.90%
Five Years Not Available 2.30% 2.30%
SBI Customer Loyalty 5 Year Fixed Deposit (GBP)
Period Gross Rate
Monthly interest
Gross Rate
Maturity/Annual interest
AER
Five Years 2.96%
3.00%
3.00%

To check the eligibility criterion – please contact your local Branch for more information

Terms and conditions of a Fixed Deposit

  • The Fixed Deposit is available to an individual, aged 18 years or over, who is ordinarily resident in the UK for tax purposes and has a permanent UK address.
  • Minimum amount required for making a deposit is £10,000/US$10,000/€10,000. The maximum amount that can be invested in this deposit is £5,000,000 or other currency equivalent.
  • If you do not already have a Savings or a Current Account with us, you will be required to open the same. You cannot add additional amounts to your Fixed Term Deposit. However you can open more than one Fixed Term Deposit, subject to availability.
  • The rate of interest is fixed for the entire period of the deposit. You can choose the period of the deposit based upon the terms available at the time of the creation of the Fixed deposit
  • The interest payout frequency is dependent on your choice of the period of the Fixed deposit. Details below.

    Period of Fixed deposits Interest payout frequency
    One year On Maturity
    Over one year Interest will be added to the deposit on the anniversary and paid at maturity.
       
  • Where you wish to deposit £50,000 or more for a term of 1 year or more, you have the option of receiving interest monthly or annually. This is only available for Sterling deposits. The interest will be paid into your savings or current account held with us.
  • Interest will be paid after deduction of income tax at rate specified by law, which is currently 20%. However, we will be able to pay gross interest to eligible account holders subject to completion of HM Revenue and Customs form R85 available from your local branch or the HM Revenue and Customs website at www.hmrc.gov.uk
  • Deposits cannot be withdrawn before maturity.
  • This Deposit scheme will be available for a limited period and may be withdrawn at any time at the discretion of the Bank.
  • Please click here for information on our General Terms and Conditions of Service.
* AER - Stands for Annual Equivalent Rate and illustrates the interest rate if it was paid and compounded once each year. Gross is a contractual rate payable before deduction of income tax at rate specified by law

SBI FIXED DEPOSIT FOR NON RESIDENT CUSTOMERS

Instant Access Savings Account
  • Deposit available in Sterling, US Dollars and Euros
  • Minimum investment of £50,000 or $50,000 or €50,000
  • For individual investors only.
SBI Fixed-Deposit Rates for GBP deposits
Period Gross Rate Maturity interest AER
One Year 1.70% 1.70%
Two Years 2.10% 2.10%
Three Years 2.35% 2.35%
Five years 2.90% 2.90%

SBI Fixed-Deposits - for USD Deposits
Period Gross Rate Maturity interest AER
One Year 1.85% 1.85%
Two Years 2.15% 2.15%
Three Years 2.40% 2.40%
Five Years 3.10% 3.10%
SBI Fixed-Deposits - for Euro Deposits
Period Gross Rate Maturity interest AER
One Year 1.45% 1.45%
Two Years 1.65% 1.65%
Three Years 1.90% 1.90%
Five Years 2.30% 2.30%

Terms and Conditions of a Fixed Deposit for Non Resident Customers

  • The Fixed Deposit is available to people aged 18 years and over.
  • Minimum deposit is £50,000/US$50,000/€50,000. The maximum amount that can be invested in this deposit is £5,000,000 or other currency equivalent.
  • If you do not already have a Savings or a Current Account with us, you will be required to open the same. You cannot add additional amounts to your Fixed term Deposit. However you can open more than one Term Deposit, subject to availability of the scheme.
  • The rate of interest is fixed for the entire period of the deposit. You can choose the period of the deposit based on the terms available at the time of the creation of the Fixed deposit
  • Interest will be added to the deposit on every anniversary and paid at maturity.
  • Interest will be paid after deduction of income tax at rate specified by law, currently 20%. However, interest will be paid gross to all Non-Resident account holders who complete the Inland Revenue R105 form to receive interest without tax taken off. The forms are available in branch or the HM Revenue and Customs website at www.hmrc.gov.uk.
  • Deposits cannot be withdrawn before maturity
  • This Deposit scheme is available for a limited period and may be withdrawn at any time at the discretion of the Bank.
  • Please click here for information on our General Terms and Conditions of Service.
* AER stands for Annual Equivalent Rate and illustrates the interest rate if it was paid and compounded once each year. GROSS is a contractual rate payable before deduction of income tax at rate specified by law.

SBI BUSINESS FIXED DEPOSIT

Instant Access Savings Account
  • Fixed deposit available only in Sterling.
  • Minimum Investment of £50,000.
  • Deposit for up to a period of 5 years.
  • Available to new customers and existing customers of State Bank of India in the UK.
Period Gross Rate
Monthly interest
AER
One Year 1.70% 1.70%
Two Years 2.10% 2.10%
Three Years 2.35% 2.35%
Five Years 2.90% 2.90%

Terms and Conditions of a Business Fixed Deposit

  • The Fixed Deposit is available to new and existing UK Business customers.
  • The minimum amount you may place in a Business deposit is £50,000. The maximum amount that can be invested in this deposit is £5,000,000.
  • All deposits must be in Sterling.
  • The period of the deposit is between 1 year and 5 years
  • Withdrawals and closures are not permitted during the term of the Business deposit. Funds must remain in the account until maturity.
  • New customers must send the amount of deposit by a CHAPS payment from their business bank account held with another bank or financial institution. Customers who hold an account with us can send instructions to transfer funds from their account with us to their Hi Return Business Fixed Deposit. The deposit will be paid back to the account of the company with the institution from where the funds were received.
  • You cannot add additional amounts to your Business Term Deposit. However you can open more than one Business Term Deposit, subject to availability of the scheme.
    The interest payout frequency is dependent on your choice of the period of Fixed deposit. Details below:
    Period of Fixed deposits Interest payout frequency
    Less than one year
    (1 month - 11 months)
    Monthly
    One year On Maturity
    Over one year Interest will be added to the deposit on the anniversary and paid at maturity.
  • The rate of interest is fixed for the entire period of the deposit.
  • This Deposit scheme is available for a limited period and may be withdrawn at any time at the discretion of the Bank.
  • Please ask at branch for the application form and information regarding documents required for the account.
  • Please click here for information on our General Terms and Conditions of Service.
* AER stands for Annual Equivalent Rate and illustrates the interest rate if it was paid and compounded once each year. GROSS is a contractual rate payable before deduction of income tax at rate specified by law.