UBL UK: UBL High Saver Easy Access

Easy Access | GBP
  • FSCS protects deposits up to £85,000 per person

About UBL UK

UBL UK was established in 2001 and the Bank’s principal activities are to provide Retail Banking services, Wholesale Banking, Treasury, Money Transfer services and Finance facilities to individuals and businesses of all sizes in the UK.

UBL UK is a Bank incorporated in the UK, and authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority (FCA) and the Prudential Regulation Authority (PRA).

Product details

Account name
UBL High Saver Easy Access
What is the interest rate?
4.87 % AER

4.76% Gross

AER is the Annual Equivalent Rate and represents what the interest rate would be if interest was realised and paid once each year.

Accrued interest is calculated daily, compounded monthly and paid gross without prior deduction of tax.

Interest is paid monthly, on the last day of each month.

Can UBL UK change the interest rate?

The interest rate applicable to your deposit is variable.

Should the bank set a date to lower the interest rate, you will be given a minimum of 14 days’ notice. You may receive less notice if the rate increases.

Please review the Meteor Asset Management (MAM) Terms and Conditions for more information.

What would the estimated balance be after 12 months based on a £10,000 deposit?

The estimated balance after 12 months on a deposit of £10,000 is £10,485.48. This projection is for illustrative purposes only and does not take into account individual circumstances.

This assumes that the interest rate earned remains the same for twelve months where in reality it could increase or reduce, in which case the projection would increase or reduce accordingly.

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) check.

The minimum amount you can deposit is £10,000. You can top up your account with the minimum amount of £500 per transaction and the maximum balance you can have is £85,000 (per product and banking institution).

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 & Conditions.

Please ensure you have read and understood all sets of Terms and Conditions before applying for this product.


Can I withdraw money?

Yes. There is no limit to the amount of withdrawals you can make; however, you are unable to withdraw less than £500 in a single withdrawal transaction and a withdrawal will not be authorised if it leaves your balance below £10,000. To withdraw below your minimum balance you may close your account at any time by requesting closure from within Raisin UK.


In the event you have requested to close your account fully, funds may be returned to your Raisin UK Account in two separate payments by MAM and can take up to two business days to be returned to your Raisin UK Account. For further information, please refer to clause 4.21 of the MAM Terms and Conditions.

If termination is received on a non business day (either weekend or public Holiday), the termination will be initiated on the next business day.

Once termination has been requested it can’t be revoked.

Additional information

MAM, with their administration arm Meteor Investment Management (MIM), will administer the deposit on your behalf.

Funds will appear in MIM’s account by the following business day from funding your application at the latest. Funds will be remitted to UBL UK by MIM on the next business day after arriving 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.

Cash and deposits will be held by MIM and 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).

You have the right to cancel your account without charge and without giving any reason, within 14 calendar days from the day of opening this savings account.  For further information, please refer to clauses 1.18 and 1.19 of the MAM Terms and Conditions.

Security and deposit guarantee

Deposits are eligible for protection by the Financial Services Compensation Scheme (FSCS) http://www.fscs.org.uk/. The FSCS is the United Kingdom’s statutory deposit guarantee scheme that covers deposits in individual savings accounts up to £85,000, per banking group regulated by the Financial Conduct Authority or the Prudential Regulation Authority. It is available for deposits with most UK high-street and online banks and means if the bank fails, and deposits become unavailable, the scheme may cover your deposit account deposit up to the £85,000 per person, per banking group limit.

Compensation limits are per person per firm, not per deposit. Be aware that if you have other deposits with this bank (or banking group) then the £85,000 protection applies only to eligible deposits up to this limit.

Timescales for the return of your money can vary between different banks and banking groups. This bank holds funds under a trust model. Funds held under a trust model can take up to three months to be returned, but in most cases will be returned sooner than this.’ and vice versa.