Union Bank offers the following types of foreign currency accounts to its clients;
a. Non - Resident Foreign Currency Accounts (NRFC)
b. Resident Non - National Foreign Currency Accounts (RNNFC)
c. Resident Foreign Currency Accounts (RFC)
d. Exporter´s - Foreign Currency Accounts (EFCA)
e. Foreign Currency Accounts for Professional Service Providers (FCAPS)
f. Foreign Currency Banking Unit Accounts (FCBU)
To save your foreign exchange and earn interest at the same time a client could choose from a variety of currencies and time periods and also benefit from appreciating currencies by converting his investments as when he wishes.
Minimum deposit requirement is USD 500.00 or its equivalent in any other currencies
Interest rate is periodically adjusted to be in line with market rates.
You could nominate any person /s, as beneficiary to your account balances, during the relationship for amounts of you choice
You could appoint any person of full contractual capacity to operate the account in your absence
Currency
USD
GBP
EUR
AUD
JPY
SGD
CAD
Savings
2.50%
2.00%
2.00%
3.00%
0.25%
0.50%
3.00%
ii. Foreign Currency Time Deposits Accounts
Union Bank offers the following types of Fixed Deposit foreign currency accounts to it´s clients;
a. Non - Resident Foreign Currency Accounts (NRFC)
b. Resident Non - National Foreign Currency Accounts RNNFC)
c. Resident Foreign Currency Accounts (RFC)
d. Exporter´s - Foreign Currency Accounts (EFCA)
e. Foreign Currency Accounts for Professional Service Providers (FCAPS)
f. Foreign Currency Banking Unit Accounts (FCBU)
Minimum deposit requirement is USD 1000.00 or its equivalent in any other currencies
Deposit Period
GBP
USD
EURO
AUD
12 Months
4.50 % p.a.
4.25 % p.a.
3.75 % p.a.
5.00 % p.a.
6 Months
4.00 % p.a.
4.00 % p.a.
3.50 % p.a.
4.50 % p.a.
3 Months
3.50 % p.a.
3.75 % p.a.
3.25 % p.a.
4.25 % p.a.
1 Months
3.00% p.a.
3.50 % p.a.
3.00 % p.a.
4.00 % p.a.
Deposit period ranges from 01 month up to 12 months (1,3,6,9 & 12 months ).
Interest payment either at maturity ( accumulated) or monthly.
If monthly - interest is 0.5% less than the applicable rate.
Automatic rollover facility upon maturity for same period, with or without interest .
Premature withdrawals will be subject to a penal rate,depending on the period.
You could nominate any person /s, as beneficiary to your account balances, during the relationship for amounts of you choice
You could appoint any person of full contractual capacity to operate the account in your absence
Accepted as security for credit facilities ( Overdrafts, Loans).
