What interest rate does the State Bank of India Jumbo Junior Fixed Deposit Account pay?

The State Bank of India Jumbo Junior Fixed Deposit Account pays 4.65% AER fixed.

How much interest could I earn?

Saving £10,000 for 1 year would earn about £465 at 4.65% AER. This assumes the rate stays the same and interest stays in the account.

How much can I pay in?

You can deposit at least £1,000 and up to £100,000.

When is interest paid?

Interest is paid at the end of the term.

Who can open this account?

New and existing State Bank of India customers can open it. You can open it online.

How does it compare with other children's savings accounts?

At 4.65% AER it ranks 3rd of 73 children's savings accounts we track. The best pays 5.50% and the average is 2.92%.

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Children's Savings

State Bank of India Jumbo Junior Fixed Deposit Account Review

One of the best-paying children's savings accounts, from State Bank of India, with a £1,000 minimum deposit. It ranks 3rd of 73 children's savings accounts we track.

Rate checked Oct 2026Got this account? Leave a review

Fixed rate

4.65%AER

Account type: Fixed rate
Maximum age: 15

Rate checked Oct 2026Got this account? Leave a review

Min balance

£1,000

Max balance

£100,000

Term

1 Year

Interest paid

On Maturity

How It Stacks Up

Ranks 3rd of 73

Children's savings accounts we track

Among the best

This account 4.65%

UK CPI (Aug 2026): 3.10%; Pays 1.55% more
Average children's savings: 2.92%; Pays 1.73% more
Best children's savings: 5.50%; Pays 0.85% less

Inflation: ONS. Averages and best rates: accounts on DepositScout.

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Pros and cons

Pro: New and existing savers
Con: You need at least £1,000 to open it

Good to Know

Needs a Jumbo Junior Instant Access account with SBI UK, existing or opened alongside. £1,000 to £100,000. Interest paid in full at maturity. Open to children up to 15.

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Estimated returns with State Bank of India's Children's Savings

What you could earn with State Bank of India's Jumbo Junior Fixed Deposit Account.

Estimated interest

£1,000 saved

£46.50

At 4.65% AER

£5,000 saved

£232

At 4.65% AER

£10,000 saved

£465

At 4.65% AER

£100,000 saved

£4,650

At 4.65% AER

Estimated over one year, if the rate stays the same and interest is left in. Amounts outside the account's minimum or maximum aren't shown.

Work out the tax on your interestSee how much of this interest could be taxed.

Our Expert Opinion on State Bank of India Jumbo Junior Fixed Deposit Account

Jan WatermannCo-Founder, DepositScout

This one-year fixed deposit for children pays 4.65%, which beats August 2026 CPI of 3.1% by 1.55%, so the money does at least grow in real terms. The minimum is £1,000 and the maximum £100,000, and interest is paid only at maturity, so you need to be comfortable with the money locked away for the full year. I have no market comparison data for this account, so I would still check alternatives such as Nationwide's FlexOne Saver at 5.00% before committing.

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