How much interest could I earn?

Saving £10,000 for 3 years would earn about £1,461 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 in branch or by post.

Is my money protected?

Yes. Eligible deposits are protected by the Financial Services Compensation Scheme (FSCS) up to £120,000 per person, per banking licence.

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

At 4.65% AER it ranks 2nd of 75 children's savings accounts we track. The best pays 5.00% and the average is 2.94%.

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Children's Savings

State Bank of India Jumbo Junior Fixed Deposit Account 3 Year Review

Q: What interest rate does the State Bank of India Jumbo Junior Fixed Deposit Account 3 Year pay?

The State Bank of India Jumbo Junior Fixed Deposit Account 3 Year pays 4.65% AER fixed.

One of the best-paying children's savings accounts, from State Bank of India, with a £1,000 minimum deposit. It ranks 2nd of 75 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: 13

Rate checked Oct 2026Got this account? Leave a review

Protection

FSCS£120,000

Min balance

£1,000

Max balance

£100,000

Term

3 Years

Interest paid

Anniversary

How It Stacks Up

Ranks 2nd of 75

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: 2.94%; Pays 1.71% more
Best children's savings: 5.00%; Pays 0.35% 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

Requires a Jumbo Junior Instant Access account with SBI UK, existing or opened alongside.

Please verify all details with the provider – see our Disclaimer

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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 3 Year.

Estimated interest

£1,000 saved

£146

At 4.65% AER

£5,000 saved

£730

At 4.65% AER

£10,000 saved

£1,461

At 4.65% AER

£100,000 saved

£14,609

At 4.65% AER

Estimated over the 36-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 3 Year

Jan WatermannCo-Founder, DepositScout

This account suits 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 4.65% rate beats CPI inflation of 3.1% by 1.55 percentage points as of Aug 2026, which is a reasonable real return. The main catch is that the money is locked for three years, with interest paid annually on the anniversary rather than monthly. If you want flexibility on term, SBI's one-year and two-year versions both pay the same 4.65%.

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2 alternatives to State Bank of India's Jumbo Junior Fixed Deposit Account 3 Year3 alternatives to State Bank of India's Jumbo Junior Fixed Deposit Account 3 Year

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Common questions about the Jumbo Junior Fixed Deposit Account 3 Year

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