Important Notice-Change in Interest Rate in Instant Access Savings Accounts w.e.f. 15/10/2024
Important Notice - Change in Interest Rate in Instant Access Savings Accounts w.e.f. 15/10/2024
This is to inform you that effective 15/10/2024, the interest rates for your Instant Access Savings Accounts are changing as per the table below.
|
Product Name |
Brackets GBP (£) |
Current Rate |
New Gross Rate |
New Rate (AER) |
|
Instant Access Savings Account |
£ 500 - £ 49,999.99 |
1.95% |
1.80% |
1.80% |
|
£ 50,000 - £ 5,000,000 |
2.25% |
2.10% |
2.10% |
|
|
Young Adult Instant Access Savings Account |
£500 - £ 49,999.99 |
1.95% |
1.80% |
1.80% |
|
£ 50,000 - £ 100,000 |
2.25% |
2.10% |
2.10% |
|
|
Jumbo Junior Instant Access Savings Account |
£100 - £ 49,999.99 |
1.95% |
1.80% |
1.80% |
|
£ 50,000 - £ 100,000 |
2.25% |
2.10% |
2.10% |
|
|
Business Savings Account |
£ 10,000 - £ 49,999.99 |
1.95% |
1.80% |
1.80% |
|
£ 50,000 - £ 5,000,000 |
2.25% |
2.10% |
2.10% |
*AER stands for Annual Equivalent Rate and illustrates the interest rate if it was paid and compounded once a year. Gross is the contractual rate payable before the income tax deduction at the rate specified by law.
Please note interest will not be paid on account balance above or below the specified amount brackets.
We hope that the bank’s products meet your requirement. However, if you feel that this change in rates does not allow you to meet your financial goals, we will assist you in all possible ways to move your funds to another banking service provider that can meet your requirements better.
If you encounter any difficulty in understanding the above information, please do not hesitate to contact our customer care unit or visit the nearest SBI UK branch.
You can call us on 0800 532 532 (if you are calling from within the UK), or +44 207 454 4338 (if calling from outside the UK).
For more information, see our General Terms and Conditions of Service.
