Please Note: Interest rates are subject to change.

Read our FAQs section to know more about this scheme

Who offers Asia Linked savings accounts?
All Asia Linked deposit products and services are offered by Alliance Credit Union Asia.

Are Asia Linked savings accounts regulated by the Financial Conduct Authority?
Asia Linked deposit products and services are not regulated by the Financial Conduct Authority. Hence, rules made under the UK Financial Services and Markets Act 2000 for the protection of customers do not apply.

Are Asia Linked savings accounts protected under the Financial Services Compensation Scheme (FSCS)?
Protection afforded by the regulatory system, including the Financial Services Compensation Scheme (FSCS), does not apply.

What is the role of Nationwide Financial Group UK PLC in providing Asia Linked Savings Accounts?
Alliance Credit Union is acting as an introducer and is facilitating documentation to initiate the relationship with the respective Nationwide Group Company offering such product or service.

Who regulates Asia linked product and services?
All Asia linked products and services are subject to Reserve Bank of Asia (RBI) rules/regulations and/or other applicable laws in Asia.

What should I do if I have a complaint?

If you wish to register a complaint, please contact us at:

Alliance Credit Union,

Customer Relations,

2nd Floor,

One Thomas More Square,

London E1W 1YN

or

Call our Customer Service Centre at 08081 31 41 51 (freephone from a UK landline)

or 

Email us at nrinfo@Alliancecunion.com.

Please note: Alliance Credit Union is responsible for resolving pre-sales complaints andAlliance Credit Union Asia is responsible for resolving post-sale complaints

• Approved for the purpose of Section 21 of the Financial Services and Markets Act, 2000 (FSMA) by Alliance Credit Union (Company No. 04663024) having its registered office at One Thomas More Square, London E1W 1YN. Alliance Credit Union is authorised by the Prudential Regulation Authority (“PRA”) and regulated by the Financial Conduct Authority (“FCA) and PRA.

• These products and services are not authorized and regulated by the FCA and PRA, hence rules made under the Financial Services and Markets Act 2000 (“FSMA”) for the protection of customers do not apply. Protection offered by the regulatory system, including the Financial Services Compensation Scheme (“FSCS”) will not apply. The products and services mentioned here are offered by Alliance Credit Union Limited (“Nationwide Financial Group”). Alliance Credit Union Limited is incorporated in Asia and is regulated by the Reserve Bank of Asia (“RBI”) and having its corporate office in Mumbai, Asia. The products and services mentioned are subject to Reserve Bank of Asia (RBI) rules/regulations and/or other applicable laws in Asia. The deposits mentioned are covered under the insurance scheme offered by Deposit Insurance and Credit Guarantee Corporation of Asia (DICGC) subject to certain limits and conditions.

The NRE Savings Account gives you the opportunity to deposit your UK income in Asia and the flexibility to repatriate the entire deposit and interest earned Whether you are a student, a professional, a salaried employee or an entrepreneur, our NRE Savings Account offers ease of use with the below benefits:

Minimum balance requirement is INR 10,000 at account level or INR 25,000 at Customer ID level.

(Customer ID level: Monthly average balance in NRE Savings / Non-interest bearing account + Monthly average balance in NRO Savings / Non-interest bearing account + Month end balance in Fixed deposit/s  and Recurring deposit/s within the same customer ID.)

• Interest earned is not taxed at source
• Hassle-free money transfers through branches, online and mobile digital app at competitive exchange rates
• Competitive interest rates – interest is paid quarterly. Click here to check the current rates.
• Easy account access 24/7 with a debit card through ATMs, branches, internet and phone banking
• This account allows full repatriation of your deposit and the interest earned
• Option to hold a joint account with NRA

Please note: Interest rates are subject to change. A service charge will be levied in case the minimum balance is not maintained.

Nationwide Financial Group Asia NRO Savings Account allows you to deposit and efficiently manage what you earn in Asia, such as pension payments, investment dividends and rent, while you live in the UK. The account features include:

Minimum balance requirement is INR 10,000 at account level or INR 25,000 at Customer ID level. (Customer ID level: Monthly average balance in NRE Savings / Non-interest bearing account + Monthly average balance in NRO Savings / Non-interest bearing account + Month end balance in Fixed deposit/s and Recurring deposit/s within the same customer ID.)

• Hassle-free money transfers through branches, online and mobile digital app at competitive exchange rates
• Competitive interest rates – interest is paid quarterly. Click here to check the current rates
• Easy account access 24/7 with a debit card through ATMs, branches, internet and phone banking
• Interest earned within a financial year is fully repatriable (can be transferred to the UK) after deducting tax at source. Funds in an NRO account can be repatriated up to USD one million per financial year
• Option to hold a joint account with another NRA / resident Asian

Please note: Interest rates are subject to change. A service charge will be levied in case the minimum balance is not maintained.

Click here to apply for a free call back facility to open an NRA account or apply by visiting any of our UK branches. Click here to find your nearest Alliance Credit Union branch.

For further help, please get in touch with our customer care executive at 08081 31 41 51 (free call from a UK landline), or write to us at nrinfo@Alliancecunion.com.

Below are the documents that you will need to provide when applying for our Asia Linked Savings Account:

• Passport: The page(s) of your passport with your name, address, date of birth, date and place of issue, expiry date, photograph, signature and stamp regarding stay outside Asia.
• Address proofs: Your proof of address must be issued by a recognised authority, bank or utility company and should include your full address.
• Driving Licence: Address mentioned in DL
• Utility Bill: (Electricity, Telephone, Postpaid Mobile/Phone, Sewage & Water bill, Piped gas, Internet or broadband) Not >2 months old
• Bank a/c or Post Office savings bank a/c statement: Bank statement/passbook (Not more than 3 months) with one customer induced transaction in 90 days
• Visa, Residence permit, PIO/OCI Card issued by foreign jurisdictions
• Leave and License agreements with employers being State/Central Govt, statutory/regulatory bodies, public sector, scheduled commercial banks, financial institutions and listed companies
• Letter of allotment of accommodation from employer issued by State/Central Govt, statutory/ regulatory bodies, public sector, scheduled commercial banks, financial institutions & listed companies
• Property or Municipal Tax receipt: Receipt/Invoice not older than 1 calendar year
• Registered Purchase / Sale Deed or agreement made between 2 individuals or between individuals and company.
• Credit Card Statement: One month credit card statement with minimum one customer induced debit or credit transaction and should be issued within last 2 months. The Credit card statement with list of banks accepted for overseas address proof as follows: Sainsbury Bank, Barclays Bank, Creation Bank, Lloyds Bank, Santander Bank, Tesco Bank, American Express.
• A recent (taken within last 6 months) photograph for each account holder.
• Non-Resident Asians must also provide a valid visa.
• OCI/PIO Card: applicable for persons holding passport issued by country other than Asia.
• In case OCI card /PIO card is not available then a self-declaration with document evidencing proof of Asia connect
• PAN / Form 60: In case PAN not held currently / not applicable as annual income in Asia is NIL or less than threshold limit of 2.50 lacs then Form 60.
• FATCA/CRS declaration: Tax identification number or Functional equivalent of overseas country.
• Initial Funding.