Premier Deposit Account


Earn up to 2.25% 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 up 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 by the Financial Services Compensation Scheme (FSCS), the UK’s deposit protection scheme.

 


When applying for a PDA you will need your current passport or UK driving licence and your National Insurance number.

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

Apply now

Frequently Asked Questions

 

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

Any questions?

Email pda@blme.com

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

  • Expected 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 Sterling investment is £25,000.
  • Strictly no early withdrawals or additional funds - although you can have more than one PDA with BLME at a time.
  • To open a PDA you need to be a UK resident and you will need to provide a UK cheque or direct account transfer from an account in your name. 
  • Profit is paid after the deduction of any applicable taxes we are required to apply. 
  • Profits cannot be compounded back or accrued back into the deposit.
  • Please note you will be unable to view or service this account online.
  • The Premier Deposit starts when the funds are cleared and are available for transfer into your deposit account.
  • Profit is calculated daily and will be paid at maturity and annually in the case of deposits over one year.
  • BLME will only ever invest your funds in Sharia’a compliant investments.

Your deposits at BLME are eligible for protection under the Financial Services Compensation Scheme (FSCS). For further information about the FSCS compensation, please click here or visit  www.fscs.org.uk.  

Further details can be found on the FSCS Eligibility Information Sheet and Exclusions List which is available here.





Rates

For amounts in excess of £2m please send an enquiry to pda@blme.com.

The rates in the table on the left are indicative. The rates quoted reflect the gross per annum rate (with no deduction of tax). AER means the Annual Equivalent Rate and shows what the profit rate would be if each profit payment was paid and compounded each year.

During the terms of a deposit, profit is calculated daily and is paid at the agreed maturity and annually in the case of deposits over one year.

GBP deposits accrue on a 365 day annual calendar (or 366 days in a leap year).

These profit rates apply only to the BLME Premier Deposit Account and are subject to availability.

Your deposits at BLME are eligible for protection under the Financial Services Compensation Scheme (FSCS). For further information about the FSCS compensation, please click here or visit www.fscs.org.uk. Further details can be found on the FSCS Eligibility Information Sheet and Exclusions List which is available here.

We reserve the right to amend the rates prior to entering into any investment agreement.

As of 19th April 2017