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 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 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: 13

Rate checked Oct 2026Got this account? Leave a review

Min balance

£1,000

Max balance

£100,000

Term

3 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.

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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 added to the bond each year on the anniversary of opening. Open to children up to 13.

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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

£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

Jan WatermannCo-Founder, DepositScout

This account is aimed at parents or guardians looking to lock away money for a child over three years, with a rate of 4.65% paid on each anniversary. That sits 1.55% above CPI inflation of 3.1% as of Aug 2026, so the real return is positive, which is worth noting in a children's savings context. The genuine catch is that the money is locked for the full three years, and with a minimum of £1,000 and a maximum of £100,000, it suits those with a meaningful lump sum to set aside. Nationwide's FlexOne Saver is worth a look at 5.00% if you prefer more flexibility.

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