We are dedicated to offering competitive rates and excellent customer service. We aim to provide sustainable performance founded on ethical principles. Our business is rooted in the principles of transparency, fairness and the avoidance of excessive risk and speculation. 

Premier Deposit Account

Earn up to 2.80% Gross/AER on fixed term deposits

The BLME Premier Deposit Account allows you to place a deposit of £25,000 and over for a fixed term with a competitive rate of return. The flexible investment periods from between 1 to 5 years means that you can select the term that suits your objectives.

Bank of London and The Middle East plc (BLME) is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority, firm reference number 464292. As a UK bank, 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. Any deposits you hold with BLME above the £85,000 limited are not covered.

The Premier Deposit Account (PDA) benefits and key facts:

  • Anticipated profit rate depends on the deposit amount and term
  • Profit is paid on an annual basis to the external bank account nominated on the application form. Monthly profit payments are not available.
  • The minimum investment is £25,000
  • You can open a PDA in Pounds Sterling, US Dollars, and Euros
  • Profit is paid at the net rate i.e. after the deduction of Basic Rate Tax, unless you are a non UK tax payer or a non UK resident and have provided us with the required HMRC Form
  • No early withdrawals or additional funds - although you can have more than one PDA with BLME at a time
  • Profits are not compounded back or accrued back into the deposit.
  • Payments will be made to the bank account you nominated when applying.
  • To open a PDA you will need to provide a UK cheque or direct account transfer from an account in your name
  • The PDA investment starts when the funds are cleared and are available for transfer into your deposit account
  • Profit on investments is calculated daily and will be paid at maturity and annually in the case of investments over one year
  • BLME will only ever invest your funds in Sharia'a compliant investments

When applying for a PDA you will need your current passport or driving licence and your national insurance number.

If you require any further information please refer to the Frequently Asked Questions

If you still have any questions please send an email enquiry to pda@blme.com

All PDA applications must be made online, hard copy application forms are not available.

*AER means Annual Equivalent Rate and shows what the profit rate would be if profit was paid at the stated rate for 12 months and compounded once each year. Gross per annum is the annualised rate before deduction of tax at standard rate.

Fixed Term Gross/AER %
(for a £25,000
1 Year 1.60
2 Years 2.00
3 Years 2.40
4 Years 2.65
5 Years 2.80
More rates
We reserve the right to amend the rates prior to entering into any investment agreement.