iFAST Global Bank Raises GBP & USD Fixed Deposit Rates to 4.15% AER
Event summary
- iFAST Global Bank increased GBP and USD fixed deposit rates to up to 4.15% AER for new 5-year options and 4.10% AER for 4-year options.
- The bank also raised rates across 3-month, 6-month, 12-month, 24-month, and 36-month tenors.
- iFAST Global Bank offers competitive HKD fixed deposit rates, with up to 3.75% AER for 5-year and 3.65% AER for 4-year options.
- The bank is regulated by the Prudential Regulation Authority (PRA) and Financial Conduct Authority (FCA).
- iFAST Global Bank was recently recognized as the 'Best Consumer's Choice - Highly Commended' at the Moneyfactscompare.co.uk Awards 2026.
The big picture
iFAST Global Bank's rate hikes and introduction of longer-term deposit options reflect a strategic response to elevated interest rates and global uncertainty. With assets under administration of S$31.98 billion as of December 2025, the bank is leveraging its multi-currency platform to cater to savers looking for higher returns and flexibility. The move underscores the bank's focus on digital banking innovation and regulatory compliance, as it continues to expand its presence in the UK market.
What we're watching
- Interest Rate Strategy
- How iFAST Global Bank's rate increases will position it against competitors in the UK savings market.
- Customer Response
- Whether the new longer-term deposit options will attract more customers seeking stable returns.
- Regulatory Environment
- The impact of evolving regulatory conditions on the bank's ability to maintain competitive rates.
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