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Operational Guidelines - Deposit Accounts

Business Accounts

No initial minimum deposit requirements for non-residents and other incorporated entities including superannuation funds.
Business Account is for regular transactions purpose.
No interest is payable in Business accounts.
For Fee and Charges applicable to Business Accounts, please contact Union Bank of India, Sydney Branch.

Documents required for opening business accounts:

Completed Account Opening Form set.
ASIC Registration proof of entity.
TFN number of entity.
Photocopy of Passport / Driver License of all directors / partners / trustees / authorised persons.
Photocopy of address proof of all directors / partners / trustees / authorised persons.

Flexi Deposit Accounts

Resident Individuals the initial minimum deposit of AUD 250,000.

Non-residents and other incorporated entities including superannuation funds, minimum deposit of AUD 10,000.

Fixed Term Deposit Account

Resident individuals and non-corporate institutions minimum deposit size of AUD 250,000.

Non-residents and other incorporated entities including superannuation funds, minimum deposit of AUD 10,000.

Documents required for opening resident individuals:

Completed Account Opening Form set.
Photocopy of Passport.
Photocopy of Identification Documents.
Latest passport size photograph of all the Deposit Holders.
Photocopy of address proof.
TFN number