This savings account will earn 4.91% AER for the duration of the term. With the Meteor Boost of 0.09%, the effective rate will be 5.00% AER. At maturity, the return of 4.91% AER will be credited to your General account. At the same time Meteor will pay the additional amount as a cash bonus. It is our understanding that HMRC do not currently consider such cash bonus payments to be taxable.
Punjab National Bank (International) Limited (PNBIL) is a UK incorporated commercial bank offering a range of financial services to its customers. PNBIL is the wholly-owned subsidiary of Punjab National Bank (PNB), India. PNB is a leading public sector bank in India having more than 180 million customers and a network of over 10,000 branches.
PNBIL was incorporated in the UK on 13th April 2006 and registered with the Companies House in England & Wales under NO. 5781326. PNBIL has been authorised by the Prudential Regulation Authority (PRA) and regulated by the Financial Conduct Authority (FCA) and the Prudential Regulation Authority (PRA). It got authorization on 13th April 2007 (Baisakhi Day and exactly 116 years after PNB was incorporated) to conduct Banking Business in the UK under Registration No. 459701. Complete details of the authorization are available in the FCA register.
PNBIL started its UK operations in May 2007 and presently operating through its seven branches, four branches viz. Moorgate, Southall, Ilford and Wembley in Greater London and three branches viz. Leicester, Birmingham and Wolverhampton in Midlands. Its corporate office is located at Moorgate in City of London.
The Financial Services Compensation Scheme (FSCS) is the United Kingdom's statutory deposit guarantee scheme that covers deposits up to £120,000 (£240,000 for joint accounts), per banking group regulated by the Financial Conduct Authority or the Prudential Regulation Authority. This means that if the bank fails, and deposits become unavailable, the scheme may cover your deposit account deposit up to £120,000 (£240,000 for joint accounts), per banking group. 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 protection applies only to eligible deposits up to this limit. For more information on FSCS protection, and eligibility, please see FSCS eligibility. 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.
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Cash ISA
Fixed Term
1 year
Expected profit
4.75 % AER
General
Fixed Term
2 years
Interest rate
4.79 % AER
Cash ISA
Fixed Term
2 years
Interest rate
4.75 % AER
We're here to answer any questions you may have.
A Fixed Term Deposit, also known as a term deposit or fixed rate bond, is a type of savings account where you deposit a sum of money for a set period (the "term") and receive a fixed interest rate (or expected profit rate in the case of Shariah savings) for that duration.
A Notice account is a type of variable rate savings account that requires you to give advance notice before you can withdraw your money and allows you to top up freely. In exchange for this restriction, notice accounts typically offer higher interest rates than Easy Access accounts, but lower rates than Fixed Term Deposits.
An Easy Access account, also known as an instant access or no-notice account, is a variable rate type of savings account that allows you to deposit and withdraw money whenever you need to, with no penalties. These accounts offer flexibility and convenience for savers.
