Welcome to Union Bank of India (UK) Ltd
Please Note ** “The interest rates offered on the Fixed Rate Deposit Scheme has been revised from Dt. 22nd January 2022, kindly verify the latest interest rates before submitting the application” **For Any further information please contact us at +44 20 7332 4250. or You may click on the interest rate segment in the website for the detail.

Business Fixed Rate Deposit

A company can open Fixed Term Deposit account if you are a registered entity.

  • These accounts are available in two currencies; GBP (£) & USD ($).
  • Minimum Amount of Deposit: £1000.00 for GBP deposit/$1000.00 for USD deposit.
  • Maximum Amount of Deposit: £1.00 Million for GBP deposit/$1.00 Million for USD deposit.
  • For deposit amount above £1.00 Million/$1.00 Million, please contact the Branch.
  • Deposits are presently accepted for following tenors only
    • 12 months
    • 18 months
    • 24 months
    • 36 months
    • 48 months
    • 60 months
  • Deposit for tenors other than above are not presently accepted.
  • The period of deposit can be chosen while opening the account.
  • The rate of interest is fixed for the entire period of the deposit.
  • Prematurity closures of deposit accounts are not allowed, and are payable on maturity only.
  • At the time of opening of the account, the company will have a choice of mandate for reinvestment/withdrawal/partial withdrawal at the time of maturity.
  • The company can amend the maturity instruction at any time during the tenor of the deposit.
  • In the absence of any mandate on the date of maturity the maturity proceeds would be reinvested for the original deposit period at the rate of interest applicable on the date of maturity for that period.
  • No premature withdrawals would be allowed once deposit is reinvested.
  • If the fixed deposit account is maturing on a public holiday or weekends holiday, depositor’s nominated account shall be credited on the subsequent working day with total interest payable including the holiday period at original contracted rate
  • Additional amount can't be added to the fixed deposit account during the tenor of the deposit. However, at the time of renewal additional amount can be added as per the choice of the depositor.

 

Interest Pay out Schemes

Interest would be paid depending upon tenor of the deposit as given below.

Tenor of Deposit Interest Pay out Scheme
One year At maturity
Over one year Annually at each anniversary date or at the date of maturity as you choose at the time of opening of the account

* The interest paid on the fixed term deposit, on or after 6 April 2016 will be without any tax deducted at our source. It will be your responsibility to declare the interest to HM Revenue and Customs (HMRC). Further information can be found on HMRC website at www.hmrc.gov.uk.
For interest rates offered on various maturities please refer the latest rates available on the website under the interest rate segment.

You may open Fixed term Deposit account with us either by visiting our branch in person or by sending duly filled and signed application forms with supporting documents to us you can download application form using below link.

Application Forms: Union Bank of India (UK) LTD > Forms (unionbankofindiauk.co.uk)

For any assistance for opening of account, please contact us on +44 (0) 20 7332 4250 or email us on  

We are here to help you

Union Bank of India (UK) Ltd is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority
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