Savings Account Image

Simple and
Straightforward
Banking

12-07-2024
Exchange Rate
GBP/INR 106.05 less than £250 107.40 £250 to £1999 107.50 £2000 to £4999 107.55 £5000 to £9999
USD/INR 82.82 Up to $2000
12-07-2024Exchange Rate
GBP/INR 106.05 less than £250
107.40 £250 to £1999 107.50 £2000 to £4999 107.55 £5000 to £9999
USD/INR 82.82 Up to $2000
We are making changes to our schedule of service charges and tariffs for Business and Individual accounts effective 01 April 2024. The new tariff will contain updates to account maintenance fees, transaction charges for deposits, withdrawals, and transfers, as well as changes to fees for other services. Please click on this link for more details : Union Bank of India (UK) LTD > Service Charges
Home>Personal Banking>Savings Account

Savings Account

Who can open Savings (Instant Access) Account:

 

  • Individual aged 18 years & above
  • Joint Individuals aged 18 years & above
  • No minimum balance requirement.
  • Interest is paid 1.00% P.A. calculated on daily basis and paid at end of the month.
  • The savings account can be serviced by branch banking (visit to the branch).
  • Free pay-in/GIRO slips will be provided.
  • Free Account statement once every month through e-mail
  • Free Internet Banking facility (View facility only)
  • Free cash deposit up to £1000.00 per quarter
  • Free set up of Standing Orders/Direct Debits
  • Deposits guaranteed under FSCS subject to eligibility norms.

Schedule of Charges - Savings (Instant Access) Account

Minimum Balance
(Total Quarterly Average Balance)
Minimum Balance
(Total Quarterly Average Balance)
No Minimum Balance requirement
Issue of GIRO/Pay-in books
Issue of GIRO/Pay-in books
Free
Issue of Monthly statement of account through e-mail
Issue of Monthly statement of account through e-mail
Free
Issue of Monthly statement of account through post
Issue of Monthly statement of account through post
£2.00/$2.00/€2.00 per statement
Issue of Half-yearly statement of account
Issue of Half-yearly statement of account
Free
Standing Order / Direct Debit setup and cancellation
Standing Order / Direct Debit setup and cancellation
Free
Cash Withdrawals
Up-to £1000.00/$1000.00/€1000.00
Cash Withdrawals
Up-to £1000.00/$1000.00/€1000.00
Free
Above £1000.00/$1000.00/€1000.00
Cash Withdrawals
Above £1000.00/$1000.00/€1000.00
£3.00/$3.00/€3.00 per thousand or part thereof, minimum £3.00
Internet Banking Services
Internet Banking Services
Free (View Facility Only)
Remittances to India
To accounts with Union Bank of India
Remittances to India
To accounts with Union Bank of India
Free
To accounts with other banks in India
Remittances to India
To accounts with other banks in India
£5.00/$7.00/€7.00
Account statement older than 12 months
Account statement older than 12 months
£10.00/$10.00/€10.00 per statement
Issue of Balance Certificate
Issue of Balance Certificate
£10.00/$10.00/€10.00 per certificate
Issue of Interest Certificate
Issue of Interest Certificate
Free
Issue of Duplicate Interest Certificate
Issue of Duplicate Interest Certificate
£5.00/$5.00/€5.00 per request
Certificate of confirmation of receipt of funds
Certificate of confirmation of receipt of funds
£10.00/$10.00/€10.00 per request
Cash Deposit for all currency (GBP/USD/EUR)
Cash Deposit for all currency (GBP/USD/EUR)
£2.00/$2.00/€2.00 per thousand or part of (Free up to £1000 per quarter)
Direct Debit Returned Unpaid
Direct Debit Returned Unpaid
£12.00 per return
Cheque Returned Unpaid
Cheque Returned Unpaid
£10.00/$10.00/€10.00 per return
Stop Payment
Stop Payment
£10.00/$10.00/€10.00 per cheque
Payment through CHAPS
Payment through CHAPS
£25.00 per payment
Payment through Faster Payment Services (FPS)
Payment through Faster Payment Services (FPS)
£2.00 per payment
Payments through SWIFT(Charges are as per the payment currency)
Payments through SWIFT(Charges are as per the payment currency)
Payment in GBP
£25.00 per payment
Payment in USD
$50.00 per payment
Payment in EUR
€50.00 per payment
Transaction Charges
Transaction Charges
Free
Amendment / Cancellation / Recall of Payment Instructions
Amendment / Cancellation / Recall of Payment Instructions
£15.00/$30.00/€25.00 per instruction
Special Presentation of cheques
Special Presentation of cheques
£15.00/$15/€15 per presentation
Unarranged overdraft in the Account
Unarranged overdraft in the Account
Bank Rate+12.00% Per Annum (P.A)

Schedule of Charges – Current Account

Minimum Balance
(Total Quarterly Average Balance)
Minimum Balance
(Total Quarterly Average Balance)
£100.00/$100.00/€100.00
Charges for Non-Maintenance of Total Quarterly Average Balance
Charges for Non-Maintenance of Total Quarterly Average Balance
£10.00/$10.00/€10.00 per quarter
Issue of Cheque Books and Giro books
Issue of Cheque Books and Giro books
Free
Issue of Monthly statement of account through e-mail
Issue of Monthly statement of account through e-mail
Free
Issue of Monthly statement of account through post
Issue of Monthly statement of account through post
£2.00/$2.00/€2.00 per statement
Issue of Half-yearly statement of account
Issue of Half-yearly statement of account
Free
Standing Order / Direct Debit setup and cancellation
Standing Order / Direct Debit setup and cancellation
Free
Cash Withdrawals
Up-to £1000.00/$1000.00/€1000.00
Cash Withdrawals
Up-to £1000.00/$1000.00/€1000.00
Free
Above £1000.00/$1000.00/€1000.00
Cash Withdrawals
Above £1000.00/$1000.00/€1000.00
£3.00/$3.00/€3.00 per thousand or part thereof, minimum £3.00
Internet Banking Services
Internet Banking Services
Free (View Facility Only)
Remittances to India
To accounts with Union Bank of India
Remittances to India
To accounts with Union Bank of India
Free
To accounts with other banks in India
Remittances to India
To accounts with other banks in India
£5.00/$7.00/€7.00
Account statement older than 12 months
Account statement older than 12 months
£10.00/$10.00/€10.00 per statement
Issue of Balance Certificate
Issue of Balance Certificate
£10.00/$10.00/€10.00 per certificate
Certificate of confirmation of receipt of funds
Certificate of confirmation of receipt of funds
£10.00/$10.00/€10.00 per request
Cash Deposit for all currency (GBP/USD/EUR)
Cash Deposit for all currency (GBP/USD/EUR)
£2.00/$2.00/€2.00 per thousand or part of (Free up to £1000 per quarter)
Direct Debit Returned Unpaid
Direct Debit Returned Unpaid
£12.00 per return
Cheque Returned Unpaid
Cheque Returned Unpaid
£10.00/$10.00/€10.00 per return
Stop Payment
Stop Payment
£10.00/$10.00/€10.00 per cheque
Payment through CHAPS
Payment through CHAPS
£25.00 per payment
Payment through Faster Payment Services (FPS)
Payment through Faster Payment Services (FPS)
£2.00 per payment
Payments through SWIFT(Charges are as per the payment currency)
Payments through SWIFT(Charges are as per the payment currency)
Payment in GBP
£25.00 per payment
Payment in USD
$50.00 per payment
Payment in EUR
€50.00 per payment
Transaction Charges
Transaction Charges
Free
Amendment / Cancellation / Recall of Payment Instructions
Amendment / Cancellation / Recall of Payment Instructions
£15.00/$30.00/€25.00 per instruction
Special Presentation of cheques
Special Presentation of cheques
£15.00/$15/€15 per presentation
Unarranged overdraft in the Account
Unarranged overdraft in the Account
Bank Rate+12.00% Per Annum (P.A)

Schedule of Charges – Fixed Rate Deposit Accounts

Certificate of confirmation of Deposit (if issued in Duplicate)
Certificate of confirmation of Deposit (if issued in Duplicate)
£10.00/$10.00 per request
Issue of Interest Certificate (if issued in Duplicate)
Issue of Interest Certificate (if issued in Duplicate)
£10.00/$10.00 per request

Notes: for your information

  1. "£" is used for GBP, "€" is used for EURO and "$" is used for USD
  2. Cheque books are issued only in case of GBP Current Account for individual Accounts.
  3. These schedules of charges form part of General terms and conditions that apply to your account.
  4. In case of any discrepancy in the bank charges or if it is not consistent with the contract with you, please bring to the notice of the bank immediately.
  5. The Bank reserves the right to amend the schedule of charges, however, a notice will be provided on our website for 2 months before any change to take place.
  6. In case of business denominated in £ GBP, $ USD and € EURO, the charges would be recovered in respective currencies. In case € EURO/ $ USD rates are not mentioned, the tariff would be computed taking £ GBP equivalent of the currency concerned.
  7. New Account in € Euro Currency are discontinued, said charges / minimum balance requirements for existing € EURO accounts only.
  8. Bank provides Cheque clearing facility for £ GBP Currency only.
  9. Bank provides Cash withdrawal / Deposit facility for £ GBP Currency only. Cash withdrawals in currencies other than GBP currency are entirely at Bank's discretion.

You may open Savings (Instant Access) Account with us either by visiting our branch in person or by sending dully filled and signed application forms with supporting documents to us.

 

In some exceptional cases, along with the application form and supporting documents, as part of customer due diligence process we may request you to provide us a "Signed cheque payable to yourself" for a minimum of £1.00. (Please note we do not accept bankers Cheque)

 

To proceed for account opening, click here to download this form and submit it to below address:

 

Attn: AOF

Union Bank of India UK ltd

12 Arthur Street

London EC4R 9AB

 

For any assistance for opening of account, please contact us on +44(0)2073324250 or email us on

Documentation Required:

Group A: Proof of Identity (anyone):

  • Copy of the Valid passport with a minimum period of 6 months to expiry.
  • Copy of the current full UK photo driving license (with counterpart).

 

Group B: Proof of Address: (anyone):

  • Copy of recent (not older than 3 months) postal UK Bank account statement or UK Full driving license (If not used an ID proof) or postal copy of utility bill (telephone, gas, electricity, water, council tax, T.V License) with full name and address.
  • Additionally, bank may ask for proof of source of wealth/fund to its satisfaction.
  • If application is sent through post, we will require a minimum £100 cheque from the applicants UK bank account for initial funding purpose.
  • If application is submitted by in person visit to the Bank, we will require a minimum deposit of £100 post opening of the account from the applicants UK bank account for initial funding purpose.

 

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