- With a State Bank of India (UK) Limited Fixed Deposit Account, you can invest from £10,000.
- At a glance:
- Earn a high rate of interest
- Deposit for 1000 days
- Minimum deposit £10,000
Business Centenary Fixed Deposit Account - SBI UK
Business Centenary Fixed Deposit Account
Example @ £10,000
|Principal||AER Interest||Days||Interest Earned|
|£10,000.00||1.00% (pro-rata basis)||1000||£276.46|
|Account name||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 :
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 until the end of the term.
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||Withdrawals and closures are not permitted during the term of the Business deposit. Funds must remain in the account until maturity|
Key product features :
- Minimum investment of £10,000 to a maximum of £5,000,000 or equivalent for other currencies
- Available in GBP only
- You cannot add additional amounts to your Fixed Term Deposit during the term
- The Fixed Term Deposit scheme is available for a limited period and may be withdrawn at any time at the discretion of the Bank
SBI UK Fixed Deposit Accounts :
- To qualify for a Fixed Deposit Account, you must :
- be aged 18 or over
- be resident in the UK for tax purposes
- have a permanent UK address
- The minimum deposit is £10,000 and the maximum is £5,000,000.
- On maturity your 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.
- Interest 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 until they mature.
- 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.
- Our deposit accounts are available for a limited period and we may withdraw them at any time.
- For more information, see our General Terms and Conditions of Service.