Take advantage of currencies that appreciate against the Rupee, and enjoy attractive interest rates, by saving in foreign currency.
RFC - Resident Foreign Currency Accounts - for Sri Lankan nationals residing in Sri Lanka
NRFC - Non-resident Foreign Currency Accounts - for Sri Lankan nationals employed abroad.
RNNFC - Resident Non-national Foreign Currency Accounts - for residents of Sri Lanka who are not Sri Lankan nationals.
Benefits
You are free to remit out funds without prior approval from Exchange Control.
You can maintain your funds in any foreign currency approved by the Central Bank of Sri Lanka, and convert to rupees as and when you wish.
No withholding tax is charged on interest earned.
Get a Rupee overdraft facility against your 12 month foreign currency fixed deposit, of up to 90% of your deposit (Minimum of Rs. 100,000).
Interest
Interest is calculated on daily balance and credited monthly
Safe Deposit Locker
You will be entitled to a safe deposit locker* at a nominal rental, provided an average balance of the equivalent of Rs. 75,000/- is maintained in your foreign currency savings account, or a minimum of the equivalent of Rs. 100,000/- in FD. Click here for more details. *subject to availability
To open an account, you will need
- An initial deposit of of USD 100 or its equivalent in the currency of your choice for a current or savings account.
- A minimum initial deposit of USD 1000 or equivalent for call accounts or fixed deposits
- A copy of your National Identity Card or a valid Passport.
The opening and operating of foreign currency accounts are subject to prevailing Exchange Control regulations.
Click here to view Interest Rates |
