Get quick access to funding for your enterprise with business loans from the State Bank of India.
We are changing interest rates for our Existing Business Instant Access Savings Accounts to 0.75% AER and Business Current Rate to 0.00% AER for our business customers from 15th October 2016.
Our easy-access current account has been specifically designed to support your growing business. Features include 25 free transactions per month*, no annual fee** and fast, convenient access to your funds – wherever your business takes you.
*Terms and conditions apply
**Requires a minimum monthly average balance.
The State Bank of India Business Savings Account gives you access to your money just when you need it – without penalties.
Indicative Foreign Exchange Rates (up to GBP15,000.00 or equivalent in other currencies) for today:
INDICATIVE BID/OFFER RATE
State Bank of India UK does not deal in Indian Rupee Notes from our UK branches and hence, we will not be in a position to handle the Rupee note exchange process (including withdrawal of old notes). Further details including the process and FAQ are available in RBI website. https://www.rbi.org.in/
We are glad to introduce the cross currency transfers (between GBP, USD and EUR accounts) functionality for SBI UK customers (both personal and business) via secure Internet Banking. This change now allows our customers cross currency transfers within their accounts. For example, a customer who holds a USD account can make transfers to his GBP/EURO account.
State Bank of India UK is pleased to announce the opening of two branches in Hounslow and Ilford. More details under contact us.
You can now activate your internet banking password online. Simply follow the login and verification procedures. For more information, please call our customer services team on 0800 532 532.
SBI UK is covered by the Financial Services Compensation Scheme (FSCS), which can pay compensation to depositors if a bank is unable to meet its financial obligations. Most depositors - including most individuals and small businesses - are covered by the scheme.
An eligible depositor may claim up to £85,000 in deposits under the scheme. For joint accounts, each account holder is treated as having a claim in respect of their share. So, for a joint account held by two eligible depositors, the maximum amount that could be claimed would be £85,000 each (totalling £170,000). The £85,000 limit relates to the combined amount in all the eligible depositor's accounts with State Bank of India UK Offices, including their share of any joint account, and not to each separate account.
For more information about the scheme, including amounts covered and eligibility to claim, please ask at your local branch, visit the FSCS website or call 0800 678 1100.
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