UBL UK
(AA)Deposit amount: Min. £1,000 – Max. £85,000
Protection limit: Up to £85,000 payout in GBP
Account information
Rate
Duration
Deposit Guarantee
Product Type
Rate
4.26% AER
Duration
5 years
Deposit Guarantee
£85,000
Product Type
Product Type
Account Name
What is the interest rate?
4.26% AER (paid as 4.64% gross simple)
AER is the Annual Equivalent Rate and represents what the interest rate would be if interest was realised and paid once each year.
Interest is calculated from the start date and is paid on maturity. Interest will be paid gross without prior deduction of tax.
Interest will be calculated from the start date of your savings account.Can UBL UK change the interest rate?
The interest rate applicable to your savings account is fixed once your application is approved and you fund your account. The rate will stay the same throughout the duration of the fixed term. Should UBL UK amend the rate advertised before you have fully transferred funds and the rate is lower than the rate you originally ordered, we will automatically cancel your order. We will contact you if this occurs.
Please note, for renewal orders the rate you will receive will be confirmed as the rate available 5 days before the date of maturity. Please see our FAQs for more information.What would the estimated balance be after 60 months based on a £2000 deposit?
How do I open and manage my account?
To open this savings account, you must apply online through Raisin UK. Savings accounts at Raisin UK are only available through this online application process, and to be eligible to apply, you must
● Be a UK resident who is aged 18 or over
● Hold a UK bank or building society account from which you will fund your application
● Have a valid mobile phone number and email address
● Have a UK National Insurance Number
Your application acceptance will be subject to the successful completion of an Anti-Money Laundering/Know Your Customer (AML/KYC) checks.
The minimum amount you can deposit is £2000 and the maximum amount you can deposit is £85000 (per product and banking institution).
Please ensure you have read and understood all sets of Terms and Conditions before applying for this product.
You can manage your savings account through Raisin UK by logging into your Raisin UK Account. You can contact Raisin UK by telephone, by email or in writing by using the contact details provided in the Raisin UK Terms and Conditions.
Please ensure you have read and understood all sets of Terms and Conditions before applying for this product.You can choose to renew your account at any time once it is open (if the option is available). If the renewal rate decreases before your maturity date, we will revoke your order, and contact you to ask you to opt back in to the new rate. If the rate increases, your product renewal request will remain unchanged. Please see our FAQs for more information.Can I withdraw money?
Because this savings account is a fixed term deposit, withdrawals are not permitted before the maturity date, except in any exceptional circumstances agreed to by UBL UK in its absolute discretion. This savings account does NOT operate on the basis that you can end the fixed term of your savings account prematurely and pay a fee to withdraw your funds sooner.
Your savings account will not automatically renew at the end of the fixed term for a further fixed term.Additional information
Meteor Asset Management (MAM), with their administration arm Meteor Investment Management (MIM), will administer the deposit on your behalf. Please note that you do not have a direct account with UBL UK but your deposit is held by them in a trust account opened by MAM for the benefit of you and other depositors.
Funds will be remitted to UBL UK by MIM on the business day after they arrive in the MIM account. It can therefore take up to 2 business days for an ordered product to be set up and start earning interest.
All cash in transit and deposits once established, will be administered by MIM and held by MAM in trust for you under FCA client money and asset rules.
UBL UK reserves the right to close your account without any notice if we reasonably believe you have broken any terms of the product agreement. This includes but is not limited to, breaking laws / regulations, being engaged in financial crime, providing false information and committing any illegal activity (see UBL UK Personal Banking Terms and Conditions for further information available at www.ubluk.com).