Interest Rate Sheet

INTEREST RATES ON VARIOUS PRODUCTS (Effective from 14/10/2016)

UBL Personal Accounts

                           Please note: We are not accepting new applications on any 90 Day Notice Accounts until further notice.

Online Easy Access Account
Account GROSS
Online Easy Access 0.90%

Only available in GBP. Variable interest rate. Interest is calculated on a daily basis and credited annually in December. Minimum interest earning balance £500/Maximum interest earning balance £200,000

90 Day Notice Gold Account
Account GROSS
90 Day Notice Gold Account 1.00%

Interest is variable and credited half yearly in June and December. Minimum interest earning balance £1/ Max deposit £1,000,000 applies

GBP Fixed Deposit Rates
Term of Deposit GROSS AER
1 Month Fixed Deposit
Interest Paid at Maturity 0.05% 0.05%
3 Month Fixed Deposit
Interest Paid at Maturity 0.10% 0.10%
6 Month Fixed Deposit
Interest Paid at Maturity 0.15% 0.15%
1 Year Fixed Deposit
Interest Paid Monthly 1.19% 1.20%
Interest Paid Annually 1.20% 1.20%
2 Year Fixed Deposit
Interest Paid Monthly 1.44% 1.45%
Interest Paid Annually 1.45% 1.45%
Interest Paid at Maturity 1.46% 1.45%
3 Year Fixed Deposit
Interest Paid Monthly 1.54% 1.55%
Interest Paid Annually 1.55% 1.55%
Interest Paid at Maturity 1.57% 1.55%
5 Year Fixed Deposit
Interest Paid Monthly 1.88% 1.90%
Interest Paid Annually 1.90% 1.90%
Interest Paid at Maturity 1.97% 1.90%
7 Year Fixed Deposit
Interest Paid Monthly 1.93% 1.95%
Interest Paid Annually 1.95% 1.95%
Interest Paid at Maturity 2.07% 1.95%

Interest is fixed for the term of deposit. Minimum balance £2,000/Maximum balance £1,000,000 applies.

Fixed Rate Cash ISA
Term of Deposit GROSS AER
1 Year Fixed Rate Cash ISA
Interest Paid at Maturity 0.10% 0.10%
2 Year Fixed Rate Cash ISA
Interest Paid Monthly 0.20% 0.20%
Interest Paid Annually 0.20% 0.20%
Interest Paid at Maturity 0.20% 0.20%
3 Year Fixed Rate Cash ISA
Interest Paid Monthly 0.30% 0.30%
Interest Paid Quarterly 0.30% 0.30%
Interest Paid Annually 0.30% 0.30%
Interest Paid at Maturity 0.30% 0.30%
5 Year Fixed Rate Cash ISA
Interest Paid Monthly 0.50% 0.50%
Interest Paid Quarterly 0.50% 0.50%
Interest Paid Annually 0.50% 0.50%
Interest Paid at Maturity 0.51% 0.50%

Interest is fixed for the term of deposit. Minimum balance £2,000/ Maximum balance £1,000,000 applies

UBL UK Business Accounts

GBP Savings Account:
Balance up to: GROSS AER
Over £499,999.00 1.50% 1.50%
Upto £499,999.00 1.00% 1.00%
Upto £99,999.00 0.75% 0.75%
Upto £49,999.00 0.40% 0.40%
Upto £9,999.00 0.20% 0.20%

Interest to your account will be calculated daily and credited half yearly in June and December.

All rates are variable, but we will inform you beforehand where the rate change is to your disadvantage.

Please note that interest is paid on incremental basis. For example: if you have a deposit of £40,000 you will be paid

interest of 0.20% on 1st £9,999 and 0.40% for the remaining £30,001 of your balance.

GBP Fixed Deposit Rates
Term of Deposit GROSS AER
1 Month Fixed Deposit
Interest Paid at Maturity 0.05% 0.05%
3 Month Fixed Deposit
Interest Paid at Maturity 0.10% 0.10%
6 Month Fixed Deposit
Interest Paid at Maturity 0.15% 0.15%
1 Year Fixed Deposit Business Account
Interest Paid Monthly 1.09% 1.10%
Interest Paid Annually 1.10% 1.10%
2 Year Fixed Deposit Business Account
Interest Paid Monthly 1.34% 1.35%
Interest Paid Annually 1.35% 1.35%
Interest Paid at Maturity 1.36% 1.35%
3 Year Fixed Deposit Business Account
Interest Paid Monthly 1.44% 1.45%
Interest Paid Annually 1.45% 1.45%
Interest Paid at Maturity 1.47% 1.45%
5 Year Fixed Deposit Business Account
Interest Paid Monthly 1.79% 1.80%
Interest Paid Annually 1.80% 1.80%
Interest Paid at Maturity 1.87% 1.80%
7 Year Fixed Deposit Business Account
Interest Paid Monthly 1.83% 1.85%
Interest Paid Annually 1.85% 1.85%
Interest Paid at Maturity 1.96% 1.85%

Interest is fixed for the term of the deposit. Minimum balance £2,000/Maximum balance £1,000,000 applies

IMPORTANT NOTICE:

Fixed Term Deposits: Early withdrawal from fixed term deposit accounts is at the banks discretion and may result in a penalty charge.

Interest will be paid after the tax is deducted, to receive the gross interest you must have signed the relevant tax deductions.

Interest is not compounded.

For Fixed Deposit products, interest rates will remain fixed for the term of the investment once the account has been funded.

For accounts not yet funded these rates may change. It is the customers responsibility to complete the required documentation and fund the account within 7 days of application.

If the bank decides to change interest rates, the rate you applied for will only be valid for 7 days from the date you submit your application.

Please contact us for interest rates for deposits above £1,000,000/-

Definitions:

Gross Interest: 

Contractual rate of interest payable before the deduction applicable tax on savings accounts

AER (Annual Equivalent Rate):

AER (Annual Equivalent Rate): AER illustrates what the interest would be if interest was paid and compounded each year. Please note that other interest payment periods are available and the actual interest rate on your deposit will be lower if you have interest paid to you more frequently
US Dollar Fixed Deposit Rates (AER/Gross) (applicable to Personal and Business accounts)
$25,000 - $1,000,000
1 Month 0.10%
3 Month 0.20%
6 Month 0.65%
12 Month 1.00%

Please contact us for interest rates for deposits above US$1,000,000/-

The minimum balance requirement for new deposits is $25,000. The existing fixed deposits with balances less than $25,000 will also be offered the above interest rate for selected term.

Target Profit Rates for UBL Islamic Mudaraba Products(applicable to Personal and Business accounts)
Term of Deposit GROSS
UBL 90 Day Notice Islamic Deposit 1.00%
(Profit Rates)
Term of Deposit GROSS AER
UBL 6 Month Fixed Islamic Deposit
Profit paid at Maturity 0.15% 0.15%
1 Year Fixed Islamic Deposit
Profit paid at Maturity 1.20% 1.20%

IMPORTANT NOTICE:

Terms and Condition: Early withdrawal from deposit accounts is at the banks discretion and may result in a penalty charge.

For Fixed Deposit products, profit rates will remain fixed for the term of the investment once the account has been funded. Interest is not compounded.

For accounts not yet funded these rates may change. It is the customer’s responsibility to complete the required documentation and fund the account within 7 days of application.

If the bank decides to change profit rates, the rate you applied for will only be valid for 7 days from the date you submit your application. All rates are applicable from the date stated above.

Definitions

Mudaraba

Mudaraba is a partnership in which one party provides the capital and the other party provides the expertise. The capital provider is called “Rabb-al mal” and the expert is called “Mudarib”. The Mudarib deploys the Rabb-al mal’s money to generate profit which is not guaranteed. The actual profit generated by the Mudarib is shared between both parties according to a pre-agreed ratio.

It is a Sharia’a requirement that the mechanism for distributing profit must be clearly known in a manner that eliminates uncertainty and any possibility of dispute.

YOUR FEEDBACK

United Bank UK values its customers’ business but also acknowledges that, on rare occasions, there may be problems with the service provided by the bank. If you have a grievance, please speak to a member of staff, or write to:

United Bank UK

Central Operations

391-393 Stratford Road

B11 4JZ, Birmingham

United Kingdom

Tel: 0800 212 88 66

info@ubluk.com

You can also make a complaint by clicking here.