Bank of Ceylon (UK) Ltd

United KingdomUnited Kingdom(AA)

Deposit amount: Min. £1,000 – Max. £85,000

Protection limit: Up to £85,000 payout in GBP

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Top offer from this bank

3.80% AER

Term:
3 years

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Rate
Duration
Deposit Guarantee
Product Type

Rate

3.80% AER

Duration

3 years

Deposit Guarantee

£85,000

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Product Type

Fixed Term
Fixed Term
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Top offer from this bank

3.80% AER

Term:
3 years

Bank Details

Bank of Ceylon (UK) Limited (BOC UK) is a wholly owned subsidiary of Bank of Ceylon, Sri Lanka (BOC) and has a single office in the UK. BOC is the largest bank in Sri Lanka in terms of asset base and has branches in India, Maldives and Seychelles. BOC UK’s business operated as a branch of BOC since 1949 until it was converted into a subsidiary in 2010, and is now authorised by the Prudential Regulation Authority (PRA) and regulated by the Financial Conduct Authority (FCA) and the Prudential Regulation Authority (PRA). The bank’s business model focuses on providing wholesale banking, trade finance, correspondent banking services, and granting commercial and buy-to-let loans within retail banking. The Financial Services Compensation Scheme (FSCS), the UK’s statutory deposit guarantee scheme, protects all eligible deposits offered by BOC UK through the savings marketplace.

Security & Deposit Protection

The FSCS is the United Kingdom's statutory deposit guarantee scheme that covers deposits in individual savings accounts up to £85,000, per banking group regulated by the Financial Conduct Authority or the Prudential Regulation Authority. It is available for deposits with most UK high-street and online banks and means if the bank fails, and deposits become unavailable, the scheme may cover your deposit account deposit up to the £85,000 per person, per banking group limit. Compensation limits are per person per firm, not per deposit. Be aware that if you have other deposits with this bank (or banking group) then the £85,000 protection applies only to eligible deposits up to this limit.

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