Deposits

Terms for opening a deposit account

Union Bank of India, Sydney Branch offers various deposit plans that you can choose from depending on the term period, nature of deposit and its saving and withdrawal features.

Types of deposits

Business Accounts (Transaction Accounts)
Deposit Accounts
- Flexi Deposit Accounts
- Fixed Term Deposit Accounts

Account Suitability

Business Accounts

For Non-Residents and other incorporated entities including superannuation funds, the minimum average balance size is not defined.

Flexi Deposit Accounts

For Resident Individuals the initial minimum deposit amount is AUD 250,000.

For Non-residents and other incorporated entities including superannuation funds, the minimum deposit size is AUD 10,000.

Fixed Term Deposit Account

A minimum deposit size of AUD 250,000 is required to open the account for resident individuals.

For Non-residents and other incorporated entities including superannuation funds, the minimum deposit size is AUD 10,000.

Operational Guidelines – Business Accounts

Business Account is for regular transactional purpose. No interest will be paid to this account.

Fee and Charges are applicable to Business Accounts and the same is available on our website or contact officials of Union Bank of India, Sydney Branch.

Account Opening Forms:

Operational Guidelines –Deposit Accounts

1. Term Deposit Account opening form for Individuals

2. Term Deposit Account opening form for Companies

Operational Guidelines –Deposit Accounts (drop down page)

Flexi Deposit Accounts:

Fixed Term Deposit Account:

Significant Benefits of a Deposit Account (drop down page)

Benefits include (but are not limited by):

When you invest in a fixed term deposit you receive returns linked to prevailing market interest rates at the time of fixing the interest rate;
When you invest in a fixed term deposit you are protected from falling interest rates during the term of your investment;
When you open a current deposit account with us, you receive the benefit of facilitating your domestic and overseas receipts and payments.

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