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 2 years would earn about £952 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 on each anniversary of opening.

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%.

Dashboard

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: 14

Rate checked Oct 2026Got this account? Leave a review

Min balance

£1,000

Max balance

£100,000

Term

2 Years

Interest paid

Anniversary

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.

Compare savings accounts

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 added to the bond each year on the anniversary of opening. Open to children up to 14.

Please verify all details with the provider – see our Disclaimer

See all State Bank of India accounts

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

£95.16

At 4.65% AER

£5,000 saved

£476

At 4.65% AER

£10,000 saved

£952

At 4.65% AER

£100,000 saved

£9,516

At 4.65% AER

Estimated over the 24-month term, 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

Jonny PeaseCo-Founder, DepositScout

This two-year fixed deposit from State Bank of India is aimed at parents or guardians looking to lock away a lump sum for a child, with a minimum of £1,000 and a maximum of £100,000. The rate of 4.65% beats CPI inflation of 3.1% by 1.55 percentage points, which is a reasonable real return. I cannot compare it against the wider market here, but Nationwide's FlexOne Saver is paying 5.00%. The main catch is the money is locked for two years with interest paid only on the anniversary.

Compare Savings Accounts