Welcome to Union Bank of India (UK) Ltd
Please Note ** “ The interest rates offered to the Fixed Rate Deposit Scheme has been revised from today Dt. 21st October 2021, kindly verify the latest interest rates before submitting the applications” **For Any further information please contact us at +44 20 7332 4250. or you may click on the interest rate segment in the website.

Term Deposits

You can open online fixed term deposit account (Union Premier Bond) with us by applying through the online portal available in our website homepage.
Please follow the link for Union Premier Bond (UPB):
Welcome to Union Bank of India - Union Premier Bond (unionbankofindiauk.co.uk)
You can open Fixed Term Deposit account if you are aged 18 years or above the account can be opened in single name or in joint with any other eligible individual aged 18 years and above.

  • These accounts are available in two currencies; GBP (£) & USD ($)
  • Minimum Amount required for opening account is £ 1000.00 for GBP deposit and $ 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 (Available only through offline channel)
    • 24 months
    • 36 months
    • 48 months
    • 60 months
  • Deposit for tenors other than above are not accepted presently.
  • 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 applicant will have a choice of mandate for reinvestment/withdrawal/partial withdrawal at the time of maturity.
  • The applicant 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 or more applicants can be joined.

 

Renewal Loyalty Bonus Scheme

Existing Term Deposit customer who renews the deposit would receive a loyalty bonus interest rate of 0.10% (gross P.A) above the applicable Interest Rate. The scheme will not be applicable for the additional amount added to the existing account or to a new account opened for the additional amount.

 

Interest Pay out Schemes

Interest is 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 we pay you 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 info@unionbankofindiauk.co.uk.

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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