Fixed deposit rates for GBP deposits from 11.08.2025

Fixed deposit rates for USD deposits, effective from 09.12.2025

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

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 or US$10,000 and the maximum is £5,000,000 or other currency equivalent.
• When you open your account, you choose the period of your deposit. The rate of interest is then fixed for this entire period.

• You can give us maturity instructions in writing at least 15 Working Days before the maturity date of a Fixed Deposit. Please note that interest rates are subject to change and, in case of renewal, the rate of interest prevailing on the date of maturity will apply.You have the options of

  1.    transfer your entire account balance (principal and interest) to your nominated / Feeder bank account. 
  2.    reinvest the principal in another available deposit product with us and transfer the interest you earned to your nominated/ Feeder bank account. 
  3.    reinvest your account balance (principal and interest) in another available deposit product with us.
  4.    In the absence of any instructions from you, the Fixed Deposit Account will be renewed to another Fixed Deposit with a similar maturity period upon maturity.

  •    When you open your account, you choose the period for your deposit, and the interest rate is fixed for the entire period.
  •    If you do not have a savings or current account with us, you need to open one in order to take advantage of the Fixed Deposit offer. Customers who have an account with us can send instructions to transfer funds from their account to their Fixed Deposit. This can be done either in person or by sending the fixed deposit form by post to your home branch. Interest is paid at different intervals depending on the chosen deposit period. The table below shows when we pay interest:
   

• 
  •    *If you deposit £50,000or more for a term of one year or longer, you can receive interest either monthly or annually. This offer is only available for sterling deposits. The interest will be deposited directly into your State Bank of India (UK) Limited savings or current account.
  •    You have a right to cancel your contract by closing the fixed deposit account within 14 calendar days from the date of account opening, in accordance with the general terms and conditions. After the 14-day cooling-off period, deposits cannot be withdrawn until they mature.
  •    Please note the following: In special circumstances (such as medical reasons, bankruptcy, insolvency, or sequestration), you may be able to request an early withdrawal in accordance with the bank's internal policy. This policy is subject to change, and the bank will provide the current terms for early withdrawals at the time of your request. Early withdrawal requests are considered at the bank's discretion and may incur a penalty, potentially resulting in no interest being paid. We may request documentation to support your premature withdrawal request.
  •    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 time, and we reserve the right to withdraw them at any time.
  •    If you require any assistance at any point during the process, please don't hesitate to get in touch with us.
• Please click here for information on our General Terms and Conditions** of Service.

To qualify for our Fixed Deposit Accounts, you must be aged 18 or over and resident in the UK for tax purposes, with a permanent UK address.

If all of these statements are correct, you're able to apply for our Fixed Deposit Accounts.

Apply now >

Any questions?

• Visit your local State Bank of India branch in the UK
• Call us on 0800 532 532,available  24/7.