Union Bank of India interest rate review imminent

db3745

I can't see this posted , so just thought this info would be vital to anyone looking at the best buy tables for fixed interest rates, from where I decided 2 weeks ago to take out bonds. The banner below runs above their interest rate page.

""Bank is currently reviewing and will be revising the Interest rates offered to our Fixed Term Deposit Products on Dt. 11-11-2020. Kindly check for the latest interest rates before submitting any application'’"

You could just about make it if you act today; acceptance of my applications was pretty much instantaneous, so the key is to make payment before the rate reduces as looks inevitable. Following on from a thread I posted several days ago I found the whole procedure quite cumbersome to say the least, but my experience would have been smoother and much less fraught had I been told that the payment actually goes through Nat West as their clearing bank. On inputting payee details as specified by Union Premier Bond using Faster Payments my bank flagged up that the payee's details couldn't be checked, so paying would be at my risk. I only found out about the clearing aspect after phoning UPB. Lines are frequently tied up, so I hope my experience is not typical. Only positive I found is that on the two occasions they returned my call the lady and gent were very helpful and professional.

cisko65

Unfortunately I saw your post too late. Went through a similar thing. At the very last minute I managed to open the account but my bank flagged up that their details couldn't be checked and that slowed me down. And Union Bank of India never returned my calls.