Savings Bank Account

Savings Bank Account

Saving Bank Account is an ideal account to meet your every day banking needs. It is suitable for Residents and Non Residents, Charities, Clubs, Association and Trusts. This account is an option to cultivate the habit of banking and saving.

Key Features

  • Simplest deposit option for hassle free operation
  • Easy to understand Terms and Conditions. No hidden costs or fine prints
  • Account can be opened with a minimum balance of GBP 500
  • Account can be opened in GBP, USD and Euro currencies
  • Interest is paid every six months - 1st June and 1st December
  • Your deposits are guaranteed under FSCS
  • Operations from any of our ten branches in UK
  • Cheque and Cash deposit facility at all Natwest branches in UK
  • Free remittance facility in Indian Rupees to Bank of Baroda branches
  • Free cheque book facility
  • Free Contactless Debit Card and add-on cards
  • Facility to view account balance & transactions over Internet
  • Facility to set-up Standing Instructions for remittance and transfer of funds
  • Facility available to open joint accounts
  • Facility available to mark mandate
  • Provision to forward paper based statements every month / six months even if there are no transactions
  • Summary Box of Savings Account

Deposit Products

Application Form Product Literature

Documents Required for Opening an Account

Resident Account

01

Identity Proof (Any of the following)

  • Passport
  • Full UK driving license with photograph
  • Govt. Employees photo ID card
02

Address Proof (Any of the following)

  • Utility bill viz. Gas, Electricity, Telephone
    (Land Line), Water Council Tax Notice/Bill
  • Rental Agreement with Land Lord
  • Latest UK Bank statement

(Not earlier than three months period)

03

Additional Document

  • Proof of income, if requested
  • R-85 declaration, if exemption is requested from UK tax on Interest income
  • Telecommunication Mandate, if the instructions are to be accepted on the fax message
  • Any other document as deemed necessary by the bank official

Non Resident Account

01

As above all documents

02

R-105 tax exemption form, if they claim exemption from tax on interest income

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