A simple Instant Access Savings Account that helps you save when you want and how you want. Not only does it offer flexible savings, but if you keep a minimum £500 balance in your account you can easily transfer funds to India for free.**
At a glance:
- Access your money instantly – no notice period or withdrawal penalty
- Boost your savings with monthly interest and great rates
- Access your savings anywhere with an international debit card1
- Withdraw funds for free at UK ATMs and State Bank group ATMs in India2
- Transfer money home to India whenever you like, for free3
- Easily manage your savings account online using Internet banking
Am I eligible?
Before you apply, check that you meet the eligibility requirements.
- You are over 18 years old
- You are a UK resident for tax purposes
- You have a permanent UK address
- You don’t already have a sole or joint State Bank of India Instant Access Account
If all of these statements are correct, you can apply for our Instant Access Savings Account.
Just check which documents you’ll need and complete our application form.
Check which documents you’ll need >
** Free for Instant Access Savings Account holders meeting minimum monthly balance requirements
1 Charges and fees apply, find out more at http://www.sbiuk.com/personal/savings-account/tariff-of-charges
2 Card accepted in all ATMs displaying a MasterCard logo
3 Provided the minimum balance is maintained in your account.
Instant Access Savings Account - Issue 6
Please be aware that the rate of this account will change to 0.50% w.e.f 1st June 2017.
||Up to 31st May 2017
||With Effect from 1st June 2017
|£0 - £499
|£500 - £5,000,000
All accounts opened before the 1st June 2017 will accrue the interest rate of 0.75% up until the 31st May 2017, the interest rate of your account will be reduced on the 1st June to 0.50% (This will affect all account holders of this product).
Monthly interest payment. Variable rate.
Interest will not be paid on account balances over £5,000,000.
*AER stands for Annual Equivalent Rate and illustrates the interest rate if it was paid and compounded once a year. Gross is the contractual rate payable before the deduction of income tax at the rate specified by law.
|Instant Access Savings Account
||Instant Access Savings Account
||For current interest rates visit:
||All the interest we pay you, on or after 6 April 2016 will be without any tax deducted i.e. paid at gross rate. If the total amount of interest you receive exceeds any Personal Savings Allowance to which you are entitled, it is your responsibility to ensure this tax is paid.
|What would the estimated balance be after 12 months based on a £1,000 deposit?
||On a deposit of £1,000, estimated balance would be £1,005.
This is based on:
- Interest calculated daily and compounded monthly.
- £1,000 being deposited in the account at the time it is opened and no further deposits or withdrawals being made over the 12 month period.
- The interest rate as detailed on www.sbiuk.com/personal/interest-rates and doesn’t take into account any changes in the rate of interest over the 12 month period
|Conditions for bonus payable
||There is no bonus available on this account.
||There is no notice period or penalty for withdrawal.
||In branch, post or online.
Key product features:
- Minimum balance - £500. Maximum balance - £5,000,000
- You can access your funds using your international debit card both in the UK and abroad
- Free cash withdrawals from UK ATMs displaying the MasterCard logo and SBI ATMs in India
- Free remittance to India for account holders who maintain the minimum monthly average balance of £500. For all other account holders, a charge of £5.00 will be levied
* Charges apply for international transactions. Please check the charges schedule for more details.
How to apply
It’s quick and easy to apply. Before you do,
check you are eligible for this account.
Now check which documents you’ll need and complete our application form.
Check which documents you’ll need >
Call centre opening hours are:
Monday, Tuesday, Wednesday, and Friday - 9am to 6pm
Thursday - 9am to 5pm effective from 02 March 2017
Saturday - 9am to 3pm
Sunday - Closed