About us:
Punjab National Bank (International) Limited (PNBIL) is a 100% subsidiary of Punjab National Bank, India and is authorised and regulated by Financial Services Authority (FSA), UK. PNBIL is a member of Financial Ombudsman Service (FOS) and Financial Services Compensation Scheme (FSCS). PNBIL is authorised by FSA for accepting deposits.

PNBIL has following offices.

Corporate Office: 87 Gresham Street, London EC2V 7NQ
Corporate Branch: 87 Gresham Street, London EC2V 7NQ
Southall Branch: 90 South Road, Southall, Middlesex UB1 1RD
India Office: First Floor, Plot A, Safdarjung Enclave, Near Kamal Cinema, New Delhi 110029

Accounts to be maintained at:
Punjab National Bank (International) Limited
87, Gresham Street, London EC2V 7NQ UK
Accounts will be serviced at PNBIL's UK branches for all the purposes and at India office for lodging inqueris and requests relating to withdrawals, fund transfer, etc.

Who can open:
Any individual resident in India

Currency of Account:
GB Pound Sterling, Euro and US Doller

Tenure of Account:
One year to five years extendable for a further period of five years

Purpose of Account:
To allow resident Indians to maintain their foreign currency accounts abroad to meet expenditure like medical, children’s education, gifts/donations, purchase of property, shares & other permissible current/capital account transactions permissible under RBI’s liberalisation scheme.

What is required for opening of Account:

- Account Opening Form
- Copy of photo-id (passport, PAN Card or Permanent Driving Licence) and residence proof (any utility bill or bank statement).
- Separate documents as noted above required for each applicant
- Account Opening Form and copies of documents to be got certified by any PNB branch in India and be sent to any of our ofifces as above directly or through any PNB branch, along with the amount of deposit.

Amount of Deposit:
Maximum USD 200000 and minimum USD 500 per financial year as permissible under Liberalised Remittance Scheme of RBI. Single remittance should not be less than USD 500. Multiple credits allowed.

Rate of Interest:
Base rate in case of GBP & Euro and Fed Rate in case of US$ (presently GBP 5.00%, USD 2.00%, EUR 4.0%) to be reset within 1 month of change of interest rate in any of these currencies.
Interest to be calculated on daily products and applied on quarterly rests.

Flexible Withdrawals:
Withdrawals can be allowed on written request of the account holder for permissible purposes. Amount can be withdrawn on maturity or with two months' prior notice.
Debit card/cheque book facility is not available in these accounts. However, we shall soon be offering Internet Banking Service for enquiries and requests.

Excellent Payment Mechanism
Access to UK’s excellent and prompt payment system (BACS/CHAPS Transfers).

Risk Factors
Country Risk:
Deposits would be held in UK and would be subjected to the rules and regulations of UK.

Currency Risk:
Deposits can be withdrawn only in currency of deposit. In case of withdrawal in any other currency, the applicable exchange rate will be applied at the time of withdrawal.

Interest Rate Risk
Interest rates are subject to change in the base rates for GBP and Euro and Fed Rate for US$. Interest rate in the account would be reset within one month of the change in the Base/Fed rate.

Customer Service Centre
Customers can contact any of our following offices for any issue/complaint:

In UK
Chief Manager
Punjab National Bank (International)Limited
87 Gresham Street, London EC2V 7NQ (UK)
Phone: 0044(0)207 7969600 Fax: 0044(0)207 7961015

Chief Manager
Punjab National Bank (International)Limited
90 South Road, Southall, Middlesex, UB1 1RD (UK)
Phone: 0044(0)208 5745500 Fax: 0044(0)208 5749400

In India
Sr Manager
Punjab National Bank (International)Limited
First Floor, Plot A, Safdarjung Enclave, Near Kamal Cinema, New Delhi 110029
Phone: 0091(0)11 26163089, 26176328 Fax: 0091(0)11 26197046

Customer Protection/Deposit Insurance:
Deposits are covered under Financial Services Compensation Scheme (FSCS) which provides 100% cover to deposits of individuals with UK regulated banks up to an amount of GBP 35000 or equivalent. More details of the scheme are available at www.fscs.org.uk