Anyone use Union Bank of India?

SallySunshine

Just looked at this bank. It has just had its 1 yr anniversary in the UK.
All regulated etc.

The application form has 10 pages!

Lots of different options for term deposits,

http://www.unionbankofindiauk.co.uk/personal/term-deposits

brettp75

Hi, I posted a question about this bank a few days ago, but no response. The interest rates from this bank are more attractive than the other Fixed term deposit accounts that are listed by Martin and his team. I wonder why they are not mentioning this bank. 1 year deposit at 2.15% and Martin has listed the alternative best rate at 1.91% for Charter Bank. I tried to open up an account with Bank of Baroda a few weeks ago, but I got messed around by them through the ID verification process, I lost faith in their processes and anyway, Union Bank of India has better rates. I think it looks legitimate so I reckon I will go for it.

Krash420

UBI (Union Bank of India) is certainly a legitimate bank, my parents have been a customers for a while now - except in India.

According to the FAQs they're part of the FCSC and so they're certainly a safe bet to bank with.

If I had money to lock away for a year I certainly would consider them (especially given the good rate that they're giving). That said, I can't seem to see where in the UK they're located (no branch details).

FOREVER21

Interest rates are good and they have FSCS protection, but looking at their application form I am a bit wary.

Why do they want my present bank account details.

Why do they want to know my total capital.
What is the turn over of the new account.

How many transactions will take place.

If they are initially asking for so much detail I wonder if the application process and subsequent transactions will be tiresome.