Bank of India FSA

Hi I am interested in having information about Financial Services Authority as well as the details of whether Bank of India is member of Financial Services Compensation Scheme?

[Rajkumar Agarwal]

The key things to check when hoping to place cash into an investment account, particularly with a supplier that you are new to, is whether they are approved and managed with the Financial Services Authority (FSA) and whether your cash will be secured under the UK Financial Services Compensation Scheme (FSCS).

Bank of India is a member of Financial Services Compensation Scheme.

On the off chance that your bank, building society or credit union comes up short, the Financial Services Compensation Scheme (FSCS) ensures your qualified stores up to the store assurance restrict

From January 2016 the deposit security limit is changing from £85,000 to £75,000.

From 1 January 2016, your qualified stores with Bank of India will be secured up to a sum of £75,000 by the FSCS. The breaking point is connected to the aggregate of your qualified stores held with the accompanying UK branches of Bank of India: London, Eastham, Wembley, Birmingham, Leicester, Manchester and Glasgow branches in UK.

In the event that you have more than £75,000 with Bank of India, building society or credit union and all other exchanging names of a similar bank, building society or credit union]:

You will be permitted to break the store and pull back the abundance sum far beyond GBP 75000 without bringing about any prepayment punishment till 31.12.2015.