Welcome to Union Bank of India (UK) Ltd
**Please note – New Interest rates on all our Deposits products are applicable w.e.f from 14-03-2020. Kindly check for the latest interest rates before submitting any application'’ For any further information please contact us at +44 20 7332 4250

Corporate Deposits

Business Current Account

A Business current account can be opened by a partnership firm, company, charitable organisation, trust or any other legal entity.

The account can be opened in GBP or USD or EUR currencies.

An average quarterly balance of GBP500/USD2000/EUR2000 has to be maintained in the respective currency.

  • No interest will be paid on the balances maintained in the current account
  • The current account can be serviced by branch banking (visit to the branch) and by Internet Banking
  • Free cheque books will be provided
  • Free pay in slips
  • Free Account statement once every month
  • Free Internet Banking facility 
  • Free cash deposit up to GBP1000 per quarter
  • Set up of Standing Instruction/Direct Debits

 

For opening a Business Current Account or if you have any queries on how to open the account please contact the Bank on +44 2073324250 or send an email to us on  .

Details of documents required are specified in the application form which is available on the home page of our website.

For further details refer to our terms and conditions and list of service charges.

 

Term Deposits

Term Deposits are payable only on maturity. There is no cancelation period and no premature closure.

The bank will provide depositors with an option for auto renewal of the fixed term deposit or credit the maturity proceeds to their current or savings account on maturity date.

You cannot add additional amounts to your fixed term deposit but can open more than one fixed term deposit

The rate of interest is fixed for the entire period of the deposit;

The period of deposit can be chosen while opening the deposit;

Deposits are available in Sterling Pound, US Dollars and Euros

Various types of deposits available are:

Term Deposit

  • Interest will be paid gross on maturity*
  • Minimum Period 1 year and Maximum Period 5 years
  • Minimum Amount required for opening a deposit is GBP 1,000 and Maximum of £1 million

 

Interest Pay out Deposit Schemes

Yearly Interest Pay out scheme:

  • Interest will be paid gross to the linked operative account on yearly basis*
  • Minimum Period 1 year and Maximum Period 5 years
  • Minimum Amount required for opening a deposit is GBP 1,000 and Maximum of £1 million

* It will be your responsibility to declare the interest earned above the Personal Savings Allowance (PSA) 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 download the latest rates available on our homepage.

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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