UBL UK continues to support UK savers, announcing increases to interest rates available on personal 2 and 3 year fixed term products.

London, 18th November 2019: On Monday 18th November 2019, UBL UK announced increases to the interest rates available for their range of 2 and 3 year fixed term personal savings products for all renewals and new deposits.


The new rates for 2 and 3 Year Personal Fixed Term Deposits are 2.00% AER and 2.20% AER respectively, with the 2 and 3 Year Fixed Rate Cash ISA rates set at 1.67% AER and 1.76% respectively.


The Bank is authorised by the PRA and regulated by the FCA and the PRA, as well as being a member of the Financial Services Compensation Scheme. Eligible depositors saving with UBL UK are covered up to £85,000 per depositor.


UBL UK offers a range of ethical Islamic savings accounts, as well as conventional products that serve the needs of UK savers looking for a bank that shares their values.


Brian Firth, CEO of UBL UK comments, ‘as a community focused Bank, UBL UK works hard to deliver value to savers across the UK, helping them to make the most of their hard earned savings in the current challenging economic realities of low returns for savers. The Fixed Rate Cash ISA rates for our 2 Year product are third in the ratings tables, with our 3 year product joint 3rd.’


He adds, ‘These new personal rates will keep savers ahead of the current rate of inflation, presently at 1.5%*, in the near term with those opting for the 2 or 3 Year Personal Fixed Term Deposit and selecting interest paid at maturity set to beat the Government’s target of 2% inflation by 0.02% and 0.25% respectively.’


Applications for all Fixed Term Deposit accounts can be made by post, or by visiting any UBL UK branch. Application forms can be found on their website, as well as further information about the range of terms available in standard fixed term deposits, or fixed rate cash ISAs.


*Source (18.11.19): https://www.bankofengland.co.uk/monetary-policy



Posted on 18/11/2019 - By UBL

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