Green Fixed Deposits

Green Fixed Deposits

Green Fixed Deposits

Green Fixed Deposits

With an SBI UK Green Fixed Deposit Account, we support you in your sustainability journey while you earn a fixed rate of interest for a set period of time. You can invest from £10,000 to £5,000,000 for a fixed term of three and five years.

  • Attractive interest rate
  • Fixed term for 3 and 5 years
  • Funds under this Scheme will only be used towards current and future environment friendly lending/ Green Mortgages

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; and
  • You have an SBI UK Instant Savings/ Current Account

Just check which documents you’ll need and complete our application form.

Period Gross rate maturity/ annual interest AER*
Three Years 4.25% 4.25%
Five Years 4.35% 4.35%
Green Fixed Deposit
Account name Green Fixed Deposit
Interest rates For current interest rates visit:
https://sbiuk.statebank/personal/interest-rates
Tax status All the interest we pay you, 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 may be entitled, it is your responsibility to ensure any tax is paid.
Interest paid At each anniversary or at maturity
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

3 Years

£10,000

£ 11,329.96

5 Years

£10,000

£ 12,372.64

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 There are no withdrawals permitted during the term of the deposit
Access In branch, post or online

Key product features & criteria:

  • Minimum investment of £10,000
  • Maximum investment of £5,000,000
  • You cannot add additional amounts to your Green Fixed Term Deposit during the term
  • The Green Fixed Term Deposit scheme is available for a limited period and may be withdrawn at any time at the discretion of the Bank
  • On maturity of the Green Fixed Deposit Account, it will be re-invested in the same product with same five year term if such product continues to be offered 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 the Fixed Deposit.
  • Funds under this Scheme will only be used towards environmentally friendly current and future lending/Green Mortgages portfolio
  • The Green Mortgages product is offered to properties with EPC rating of A, B and C
  • Lending on this portfolio would always be higher than the total value of deposits
  • The rate of interest is fixed for the entire period.
  • Interest is paid at each anniversary or at maturity
  • 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 its policy at the time of your request. Early withdrawal requests are accepted at the Bank’s discretion and may be subject to a penalty and may result in no interest being paid.
    In the event of death or bankruptcy, please refer to our General Terms and Conditions for more details.
  • For more information see our General Terms and Conditions of Service.

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