Please see the table for our current Jumbo Junior Fixed Deposit Account interest rates (AERs).

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

Key product features:

• Save on behalf of a child with a Jumbo Junior Fixed Deposit Account
• Earn a competitive interest rate. For the latest interest rates visit
  www.sbiuk.com/personal/interest-rates
• Manage your account through the branch or by post
• The maximum amount that can be invested is £100,000 in total for each child across all Jumbo Junior Account products

Terms and Conditions - Jumbo Junior Fixed Deposit Account

• The minimum amount required for opening a Jumbo Junior Fixed Deposit Account is £1,000. The maximum amount that can be invested for any Child is £100,000 in total across all SBI UK Jumbo Junior Accounts.
• The Jumbo Junior Fixed Deposit Account is available to a Child aged up to and including 15 years old (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 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, resident 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 Trustees for the benefit of the Child, during the term of the Fixed Deposit.
• The Jumbo Junior Fixed Deposit Account term cannot extend to mature beyond the Child's 16th birthday. This means that on the Child's 14th birthday only the 1 and 2 year Jumbo Junior Fixed Deposit terms are available.
• If you open a Jumbo Junior Fixed Deposit Account, you must open or already hold a Jumbo Junior Instant Access account with the same customer details (ie 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 in accordance with those obligations.
• No withdrawals are permitted during the term of the deposit.
• 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 the 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.
• At maturity we will transfer the proceeds into the Jumbo Junior Instant Access Savings Account. The money will be held in trust by the Trustee/s for the benefit of the Child until the Child reaches 16 (for example, if the Child is aged 3 years old at the time the Trustee/s deposit in a 3 year deposit – the plan will mature when the Child is aged 6. The maturity proceeds will then be transferred into the existing Jumbo 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).
• All the interest we pay you, on or after April 6, 2016 will be without any tax deducted ie 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.
• You cannot add additional amounts to the Jumbo Junior Fixed Deposit Account. However, more than one Jumbo Junior Fixed Deposit Account can be opened for the same beneficiary provided that the maximum total does not exceed £100,000 across all SBI UK Jumbo Junior Accounts.
• The interest rate is fixed for the entire period of the deposit.
• Interest is calculated annually and will be paid at maturity (for 1 year deposits) or added to the deposit on the anniversary of the deposit (for terms longer than one year).
• SBI UK does not provide a debit card or online transaction capabilities for this account.
• The deposit must be made by way of either a check or electronic transfer.
• The Jumbo Junior Fixed Deposit Account 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.
• Our general terms and conditions apply. These can be viewed through our website www.sbiuk.com

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

The child must be:

• Aged 15 or younger
• 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 Fixed Deposit Account.

Download Forms.

 Any questions?

• Visit your local SBI UK branch
• Call us on 0800 532 532.

Contact center is now open 24/7.

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