Union Premier Bond Is it legit

YaYaEmac

Hi I have completed the application to invest for one year at 4.60%.  I took  the form to the bank who are very dubious paying the funds on.  They advised me to investigate the bank a bit more before I send the funds.
Has anyone invested and is it legit?

ColdIron

Got a link? (To the site you visited)

HappyHarry

Union Bank of India are regulated and covered by the FSCS.

However, they do not appear to be currently offering a 1 year bond paying 4.60%, so make sure you are dealing with the bank directly and not a clone of their website.

refluxer

The 1 year Union Bank of India bond dropped from 4.60% to 4.35% on Sat 12th Nov - did you get your application in and approved by the end of Friday 11th ?

If you want to research the company yourself, their FCA status is here and you can check your savings are covered by the FSCS by searching for the company here.

As mentioned above, just make sure you are visiting the legitimate website and not a clone.

soulsaver

What form did you take to the bank?

YaYaEmac

 I completed my application on line on Friday 11th, they confirmed it and gave me a reference and told me to make the chaps payment, which I went to the bank to do and it was there that they said I had to be 100% sure they are legit.
The website seemed OK as it was on the Martin Lewis site and there was a link on there to the site.  
Do you think I am safe paying the funds to them??.
Incidentally - Thank you all for your advice

lohr500

I hope they are as I have sent a sizable sum to them today!! I had some concern, but on balance it all seems above board. The website and email communication isn't as slick as some of the mainstream UK banks, but they have FSCS cover and others on the forum have posted to say all is well.

lohr500

Email confirmation from them today advising that they have received the funds and will be sending out a/c details later with online logon info 👍

YaYaEmac

Thank you Lohr 500. That has made me feel better. I went yesterday and made the CHAPS payment so wait anxiously to hear from them 

lohr500

And today I received two further emails. One with a secure document showing the bond details, including confirmation that the 4.6% rate has been applied. The other containing a secure document explaining how to set up the online access, which I have done.