Key features for Jumbo Junior Regular Saver


Please be aware that the rate of this account will change to 1.75% w.e.f 1st June 2017.
All accounts opened before the 1st June 2017 will accrue the interest rate of 1.75% up until the 31st May 2017, the interest rate of your account will be reduced on the 1st June to 1.25% (This will affect all account holders of this product).


A great way to start saving regularly for a child, with flexible features and an interest rate of 1.75%.

  • Interest rate of 1.75% variable.

  • Minimum monthly deposit of £50, maximum £1,500.

  • Term from 12 to 191 months (fixed at inception).

  • Flexible monthly payments, can be amended or skipped.

  • No more than one payment permitted in a calendar month, but dates can be varied.

  • Access to savings, by closing account (0.50% fee applies).

Detailed Q&A for Jumbo Junior Regular Saver

Please click here for a detailed understanding of the SBI UK Jumbo Junior Regular Saver.

For more information, please visit your local SBI UK branch or contact our Customer Services team on 0800 532 532 .

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

SBI Jumbo Junior Regular Saver Account , 15 July 2016

Balance Amount Up to 31st May 2017 With Effect from 1st June 2017
Gross rate AER* Gross rate AER*
£0 - £499 0.00% 0.00% 0.00% 0.00%
£500 - £100,000 1.75% 1.75% 1.25% 1.25%
Above £100,000 0.00% 0.00% 0.00% 0.00%


Please be aware that the rate of this account will change to 1.75% w.e.f 1st June 2017.
All accounts opened before the 1st June 2017 will accrue the interest rate of 1.75% up until the 31st May 2017, the interest rate of your account will be reduced on the 1st June to 1.25% (This will affect all account holders of this product).


* Gross is a contractual rate, payable before income tax is deducted at the legal rate.

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

Account name Jumbo Junior Regular Saver
Interest rates Visit www.sbiuk.com/personal/interest-rates for rates. Rates are variable.
What would the estimated balance be after 12 months based on a £1,000 deposit? On a deposit of £1,000, the estimated balance would be £1,012.50..
This is based on:
  • Interest calculated and compounded annually.
  • £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
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.
Conditions for bonus payable There is no bonus available on this account.
Withdrawal arrangements No withdrawals are permitted before maturity. The account can be closed prior to maturity, but we will apply an early closure fee of 0.5% based upon the closing balance (including all payments and interest accrued). If the account is closed mid-term, the early closure fee may result in you receiving less than your capital payments.
Access In branch or online.

Terms and Conditions of the Jumbo Junior Regular Saver

  • The minimum monthly payment is £50. The maximum monthly payment is £1,500.

  • The maximum amount that can be invested for any child is £100,000 in total across all SBI UK Jumbo Junior accounts.

  • A maximum of one payment can be made in each calendar month.

  • You are not required to make a payment every month. If however, you do miss a payment, you cannot make up for missing that payment by exceeding the £1,500 limit or make more than one payment for that month. The limits still apply.

  • The term chosen will be fixed at the account opening stage and cannot be altered thereafter. The minimum term is 12 months and the maximum term is 191 months (15 years and 11 months). The term cannot extend beyond the child's 16th birthday.

  • The Jumbo Junior Regular Saver is available to a child aged up to and including 15 (for example on 1 January 2014, any child with a date of birth on or before 31 December 1998 will not be eligible to apply) and who is ordinarily a resident in the UK for tax purposes and has a permanent UK address.

  • The account must be opened by either one or two adults, who must be named on the account as trustee/s, who are aged over 18, reside in the UK for tax purposes and have a permanent UK address. This account is operated on a bare trust basis, and the money will be held in trust by the adult/s (trustees) on behalf of the child, during the term of the fixed deposit.

  • The Jumbo Junior Regular Saver cannot extend to mature beyond the child's 16th birthday. This means that on the Child's 14th birthday only a term up to 24 months is available.

  • To open a Jumbo Junior Regular Saver, you must open or already hold a Junior Instant Access Account with the same customer details (i.e. both the same trustee/s and beneficiary).

  • As trustee of a trust, whether existing or bare, all trustees will have obligations to the child and it is the trustee's responsibility to administer the trust accordingly.

  • No withdrawals are permitted during the term of the Jumbo Junior Regular Saver. The account can be closed mid-term, but we will apply an early closure fee of 0.5% based upon the closing balance (including all payments and interest accrued). If the account is closed mid-term, the early closure charge may result in you receiving less than your capital payments.

  • At maturity we will transfer the proceeds into the Junior Instant Access Savings Account. The money will be held in trust by the Trustee/s on behalf of the child until the child reaches 16 (for example, if the child is aged 3 at the time the Trustee/s deposit in a 3 year regular saver – the plan will mature when the child is aged 6. The maturity proceeds will then be transferred into the existing Junior Instant Access Savings Account automatically, unless there is an instruction to the contrary, where it will be held in trust by the Trustees until the child reaches 16).

  • The rate of interest is variable. The rate will not fall below that available to a new Instant Access Savings Account customer (or similar account, in the event that this is withdrawn in the future).

  • Interest is calculated annually and will be paid at maturity (for a 12 month term) or added to the savings at each anniversary. Any interest accrued after the last anniversary date will be added at either maturity or early closure.

  • 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.

  • SBI UK does not provide a debit card or online transaction capabilities for this account.

  • The initial payment can be made via cheque or electronic transfer.

  • Funds can only be deposited into the account via a standing order from the Jumbo Junior Instant Access Savings Account. The initial deposit can be made by way of either a cheque or electronic transfer.

  • The Jumbo Junior Regular Saver is available for a limited period and may be withdrawn at any time at the discretion of the bank.

  • The bank will not offer any loan against this product.

  • Please note that our General Terms and Conditions of Service apply.

How to apply

It’s straightforward to apply. Before you do, have you checked that both you and your beneficiary – the child – qualify for this account?


The child must be:

  • Under 16 years old
  • Ordinarily resident in the UK for tax purposes
  • With a permanent UK address

You (and another adult, if you choose) must be:

  • Named on the account as trustee(s)
  • Over 18 years old
  • Resident in the UK for tax purposes, and with a permanent UK address

If all of these statements are correct, you’re able to apply for our Jumbo Junior Regular Saver.


Any questions?

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


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

** Free for instant access savings account holders who meet our minimum monthly balance requirements

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