We are covered by the Financial Services Compensation Scheme(FSCS). The FSCS can pay compensation to depositors if a bank is unable to meet its financial obligations. Most depositors – including most individuals and small businesses – are covered by the scheme.
In respect of deposits, an eligible depositor is entitled to claim up to £85,000.
For further information about the scheme (including the amounts covered and eligibility to claim) please ask at your local branch, refer to the FSCS website www.fscs.org.uk or call 0800 678 1100 or 0207 741 4100.
Save Your Application
If you would like to save your application to complete later, please enter your username and password below.
Instant Access Savings Account
Online Instant Access Savings Account
Please be aware that the rate of this account will change to 0.50% w.e.f 1st June 2017.
Minimum deposit amount of £500
Interest paid on balances above £500 and below £1,000,000
Interest is paid on a monthly basis
Available to an individual, 18 years or over, who is ordinarily resident in the UK for tax purposes and has a permanent UK address
All accounts opened before the 1st June 2017 will accrue the interest rate of 0.75% up until the 31st May 2017, the interest rate of your account will be reduced on the 1st June to 0.50% (This will affect all account holders of this product).
Account managed online or by visiting our branch
Debit card provided only to the primary account holder if requested
Deposits protected under the Financial Services Compensation Scheme
State Bank of India (SBI) is authorized and regulated by Reserve Bank of India and Prudential Regulation Authority. Subject to regulation by the Financial Conduct Authority (FCA) and limited regulation by Prudential Regulation Authority. SBI is entered on the Financial Services Register and its register number is 139156. SBI (UK) is registered in England and Wales (registered no: FC 004460, branch no: BR000696) as an overseas company, with a registered office at 15-17 King Street, London EC2V 8EA.
Protecting your money. Your eligible deposits with State Bank of India are protected up to a total of £85,000 by the Financial Services Compensation Scheme, the UK's deposit protection scheme. Any deposit you hold above the £85,000 limit are unlikely to be covered, unless under specific circumstances, as determined by the FSCS. For further information please visit www.fscs.org.uk
* AER - Stands for Annual Equivalent Rate and illustrates the interest rate if it was paid and compounded once each year. Gross is a contractual rate payable before deduction of income tax at rate specified by law.