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Old October 10th, 2017, 05:19 PM
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Default State Bank Of India UK FSCS

Hii sir, I Wants to get the Information About the Financial Services Compensation Scheme of the State bank of India UK ?
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Old October 11th, 2017, 11:16 AM
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Default Re: State Bank Of India UK FSCS

State Bank of India (SBI) is the largest commercial bank in India in terms of assets, deposits, profits, branches, customers and employees. The Government of India itself is the largest shareholder of this Fortune 500 company, with 58.6% ownership, and SBI was ranked 155th in The Forbes list of Global 2000 firms in May 2014.

The Information About the the Financial Services Compensation Scheme of the State bank of India UK is given below

About the Scheme : 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
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