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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

Read our PDS – Deposit Document

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