• Deposit available in Sterling, US Dollars and Euros
  • Minimum investment of £50,000 or $50,000 or €50,000
  • For individual investors only.

Fixed deposit rates for GBP applicable from the 6th March 2017

Period Gross rate
maturity/annual interest
AER
One Year 0.50% 0.50%
Two Years 0.75% 0.75%
Three Years 1.00% 1.00%
Four Years 1.00% 1.00%
Five Years 1.50% 1.50%

Fixed deposit rates for USD deposits, 03 August 2016

Period Gross rate
maturity/annual interest
AER
One Year 1.50% 1.50%
Two Years 2.00% 2.00%
Three Years 2.15% 2.15%
Four Years 2.40% 2.40%
Five Years 2.70% 2.70%

Fixed deposit rates for EUR deposits

Period Gross rate
maturity/annual interest
AER
One Year 0.00%  0.00%
Two Years 0.40% 0.40%
Three Years 0.45% 0.45%
Four Years 0.60% 0.60%
Five Years 0.85% 0.85%

* The Annual Equivalent Rate (AER) illustrates the interest rate if it was paid and compounded once each year.

If you don't live in the UK and you wish to open an account, please bring the following with you when you visit us in person:


  • photo Identification
  • proof of your non-UK address
  • Income proof

Please bring two separate documents – we can't accept one document only as your proof of Identification and proof of non-UK address – and make sure they're the originals.


We accept the following documents only:


Photo Identification Proof of address
  • A valid signed UK/EU passports
  • All other signed passports with valid Visa
  • A U.K. armed forces identity card or current national identity card issued by respective Governments (this should contain name of the issuing authority, full name, date of birth, address and photograph and signature of the customer)
  • A current EU /EEA (European Economic Area) photo-card driving license or overseas driving license (must show address, signature and photograph)
  • An identity card issued by the Electoral Office for Northern Ireland
  • A valid old style full UK Valid full and provisional UK driving license
  • For non-resident accounts, social security cards issued by respective Governments or a valid voters ID (this should contain name of the issuing authority, full name, date of birth, address and photograph and signature of the customer)
  • Current (within the last 3 months) bank statements or credit/debit card statements, issued by an FCA regulated financial sector firm in the UK, EU or comparable jurisdiction (excluding those printed off the internet)
  • Full/provisional UK driving license or foreign photocard driving license (if not already used to verify ID)
  • In order that we do not disadvantage customers, who have only online accounts, internet downloaded statements provided verified by the bank concerned or in our Branches
  • Utility bills (within the last 3 months excluding those printed off the internet) giving evidence of a physical address from a reputed company, such as landline phone, landline cable, gas and electricity bills. Please note that mobile phone bills are excluded.
  • Tenancy agreement from Council/Housing Association. The tenancy period should be for a minimum period of three months. Private tenancy agreements are not accepted
  • TV License document less than 12 months old.
  • Department for Works and Pensions Certified Letter (within the last 3 months)
  • Current (within the last 3 months) Mortgage Statement, issued by an FCA regulated financial sector firm in the UK, EU or comparable jurisdiction (excluding those printed off the internet)



If you are sending your application by post, please send us:


  • at least one certified photo Identification
  • at least one certified proof of address.

To certify your documents, you'll need to ask a banker, solicitor or public notary to sign them.


Download an application form


Account name Non Resident Fixed Term Deposit
Interest rates For current interest rates visit:
www.sbiuk.com/personal/interest-rates
Tax status 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 on the date the fixed deposit matures based on a £10,000 deposit? On a deposit of £10,000, the estimated balance would be:
Term Initial Deposit Estimated Balance
1 Year £10,000 £10,050.00
2 Years £10,000 £10,150.56
3 Years £10,000 £10,303.01
4 Years £10,000 £10,406.04
5 Years £10,000 £10,772.84

This is based on:
  • Interest calculated and compounded annually.
  • £10,000 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 amount of the deposit at the end of the term.
Conditions for bonus payable
  • There is no bonus available on this account.
Withdrawal arrangements There are no withdrawals permitted during the term of the deposit.
Access In branch, post or online

  • Fixed deposit available only in Sterling, US Dollars and Euros
  • Minimum deposit £50,000 or $50,000 or €50,000
  • Deposit for up to 5 years
  • Available to existing and new State Bank of India (UK) 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.
  • On maturity of the Fixed Deposit Account, the Fixed deposit will be renewed to another Fixed Deposit with a similar maturity period.

    However, you may instruct us to transfer the proceeds to the linked Current or Savings Account that you have with us. Such instructions should be received in writing by us at least 15 Working Days before the maturity date of a Fixed Deposit.
  • 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 your Fixed Deposit Account is created.
  • Interest will be added to the deposit on every anniversary and paid at maturity.
  • 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.
  • Deposits cannot be withdrawn before maturity
  • In exceptional situations, an early withdrawal request may be considered in line with the bank’s internal policy. This policy is subject to change and the bank will confirm the current terms for early withdrawals at the time of your request. Early withdrawal requests are accepted at bank’s discretion and are subject to a penalty and may result in no interest being paid.

    In the event of death or bankruptcy, the capital value and accrued interest. Please refer to our General Terms and Conditions for more details.
  • This deposit scheme is available for a limited period and may be withdrawn at any time at our discretion.
  • Please click here for 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 the legal rate.

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