Bank of London and The Middle East (BLME) has increased rates for customers using its Premier Deposit Account for 3, 6, 12 and 18 months. Depositors can now earn 1.40% on a 3 month account, and 2.30% on an 18 month account.
BLME, which holds the Moneyfacts award for Best Fixed Account Provider, offers a PDA with fixed term deposits ranging from 3 months to 7 years, with customers able to select the term best suited to their savings goals. Customers can open a PDA with a minimum deposit amount of £1,000 up to £1 million. Early withdrawals are not permitted.
The 90-Day Notice Account now offers customers an expected profit rate of 1.40% Gross Quarterly / Gross AER. Customers can add to their account at any time and can make unlimited withdrawals of £1,000 or more, as long as they provide the required 90 days’ notice and subject to maintaining a minimum balance of £1,000.
| Premier Deposit Account fixed term rates
| ||
| Deposit period
| Gross Annual Rate | AER |
| 3 months | 1.40% | 1.40% |
| 6 months | 1.60% | 1.60% |
| 12 months | 2.25% | 2.25% |
| 18 months | 2.30% | 2.30% |
| 2 years | 2.40% | 2.40% |
| 3 years | 2.50% | 2.50% |
| 4 years | 2.55% | 2.55% |
| 5 years | 2.70% | 2.70% |
| 7 years | 2.70% | 2.70% |
| 90-day Notice Account fixed term rates
| ||
| 90 days | 1.40% | 1.40% |
| *All rates correct as at 30th May 2022 | ||
Eligible deposits with BLME are protected up to a total of £85,000 by the Financial Services Compensation Scheme (FSCS), the UK’s deposit protection scheme.
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About BLME
BLME is a UK Sharia’a-compliant bank based in London. Led by a management team that brings together a combination of experienced international bankers and leading experts in Islamic Finance,
BLME is authorised by the PRA and regulated by the FCA and PRA. BLME was recognised by World Finance as the best Islamic Bank in the UK in its 2020 awards, and has been shortlisted for the Moneyfacts awards for Best Fixed Account Provider and Best Internet Account Provider. For more information, please visit our website www.blme.com.
Media contacts
Jennifer Evans
Luther Pendragon
E: blme@luther.co.uk
