What interest rate does the Union Bank of India (UK) Ltd 1 Year Fixed Rate Deposit pay?

The Union Bank of India (UK) Ltd 1 Year Fixed Rate Deposit pays 5.12% AER, fixed for one year.

How much interest could I earn?

Saving £10,000 for 1 year would earn about £512 at 5.12% AER. This assumes the rate stays the same and interest stays in the account.

How much can I pay in?

You can deposit at least £1,000 and up to £480,000.

Can I withdraw my money?

No. Your money is locked in until the fixed term ends, so only put in what you won't need before then.

When is interest paid?

Interest is paid at the end of the term.

Who can open this account?

New and existing Union Bank of India (UK) Ltd customers can open it. You can open it online.

Is my money protected?

Yes. Eligible deposits are protected by the Financial Services Compensation Scheme (FSCS) up to £120,000 per person, per banking licence.

How does it compare with other one-year fixed rate bonds?

At 5.12% AER it ranks 1st of 70 one-year fixed rate bonds we track. The best pays 5.12% and the average is 4.47%.

Dashboard

Fixed Rate

Union Bank of India (UK) Ltd 1 Year Fixed Rate Deposit Review

A top-paying one-year fixed rate bond from Union Bank of India (UK) Ltd, with a £1,000 minimum deposit. None of the other 69 one-year fixed rate bonds we track pays more.

Rate checked Oct 2026Got this account? Leave a review

Fixed rate · 1 year

5.12%AER

Rate checked Oct 2026Got this account? Leave a review

Protection

FSCS£120,000

Min balance

£1,000

Max balance

£480,000

Access

At maturity only

Interest paid

On Maturity

How It Stacks Up

Ranks 1st of 70

1-year fixed bonds we track

Top rate

This account 5.12%

UK CPI (Aug 2026): 3.10%; Pays 2.02% more
Average 1-year fixed: 4.47%; Pays 0.65% more
Best 1-year fixed: 5.12%; About the same

Inflation: ONS. Averages and best rates: accounts on DepositScout.

Compare fixed bonds

A Good Fit For

Pro: New and existing savers

Worth Weighing Up

Con: Your money is locked in for 1 year
Con: You need at least £1,000 to open it

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Estimated returns with Union Bank of India (UK) Ltd's Fixed Rate

What you could earn with Union Bank of India (UK) Ltd's 1 Year Fixed Rate Deposit.

Estimated interest

£1,000 saved

£51.20

At 5.12% AER

£5,000 saved

£256

At 5.12% AER

£10,000 saved

£512

At 5.12% AER

£480,000 saved

£24,576

At 5.12% AER

Estimated over one year, if the rate stays the same and interest is left in. Amounts outside the account's minimum or maximum aren't shown.

Work out the tax on your interestSee how much of this interest could be taxed.

Our Expert Opinion on Union Bank of India (UK) Ltd 1 Year Fixed Rate Deposit

Jonny PeaseCo-Founder, DepositScout

Union Bank of India (UK) Ltd's 1 Year Fixed Rate Deposit pays 5.12%, which sits above the market average for fixed-rate accounts across all terms, though it is 0.23% behind the current market leader at 5.35%. In real terms, 5.12% is 2.02% ahead of CPI inflation at 3.1% (Aug 2026), so your money does grow in purchasing power. The account suits savers who want a straightforward one-year fix with a relatively low entry point of £1,000 and a ceiling of £480,000. The main catch is the usual one for fixed bonds: no access at all until maturity, and interest is only paid then.

Compare Fixed Rate Bonds