NON RESIDENT FOREIGN CURRENCY ACCOUNTS (NRFC ACCOUNT)

General features of NRFC account that you should know about.

	NRFC Savings and Fixed Deposit accounts could be opened in currencies designated by the Central Bank of Sri Lanka. These are US Dollars, Sterling Pounds, Euro, Swiss Francs, Japanese Yen, Australian Dollars, Singapore Dollars, Canadian Dollars, Swedish Kroner, Hong Kong Dollars.
	Interest is paid in the currency of your account and is not subject to income tax.
	The account could be maintained in foreign currency even after you return to Sri Lanka to take up permanent residence.
	The balance in your NRFC account is freely convertible to any other currency of your choice.
	The balance in your current account is also freely transferable for the following purposes.
	Commercial transactions upto USD.7500/- or its equivalent on Production of commercial invoice. Remittances abroad for education - supported by relevant documents Remittance abroad for medical purpose – supported by relevant documents. Foreign exchange for travel Purpose
	And any other transactions of personal nature which is subject to prevailing Exchange Control Regulations.
	Travelers cheques and foreign currency notes could be obtained for travel abroad without loss of exchange.

What makes Seylan NRFC Accounts so special?

 NRFC savings accounts are offered in all designated foreign currencies.
 NRFC savings account balance could be withdrawn on demand.
 Attractive rates of interest.
 Interest is calculated on daily balances and credited to your account on the last working day of each quarter.
 Account statements are mailed free of charge to the address given by you.
 Fixed deposits are offered for three, six, or twelve months in USD, GBP, JPY, Euro and all other designated currencies.
 Fixed deposits for different periods and different currencies can be    considered on specific request.
 NRFC accounts could be opened and operated at any Seylan Bank Branch.
 Seylan Bank is present in 115 important locations all over Sri Lanka.
 You could open NRFC accounts in different designated currencies and    transfer funds between accounts, while earning additional     returns through    favorable movements.
 Attractive exchange rates for switching.
 Personalized service and confidentiality.

NRFC Cash Card

This is a unique facility and offered free only by Seylan Bank. This card allows a nominated member of your family to withdraw a fixed sum of money monthly, in Sri Lankan Rupees, with an upper limit of LKR.40,000 for a month.

Deposits

Deposits to your account could be made in:
 Bank drafts and cheques made payable to your name as stated in your  passport.
 Travellers cheques and foreign currency notes brought in to the country by  you.
 Mail transfers in your name.
 Telegraphic transfers in your name.

Withdrawals

 You could give us standing instructions to pay a fixed sum of money  periodically to a named person in Sri Lanka or abroad.
 You could give us specific instructions to remit funds by draft, mail transfer or telegraphic transfer to a named person in Sri Lanka or     abroad.
 You could obtain travellers cheques and foreign currency notes without loss of exchange on production of evidence of travel.

How to open an Account

 The initial deposit to open an account is USD 25 or equivalent.
 Complete an account opening form. Attach copies of your passport (the pages with your photograph and personal details) along with     your VISA copy and the photocopy of the job contract and send same with your initial remittance.

Special features of Seylan Bank NRFC Accounts

If you maintain a minimum balance of USD 500 or equivalent for a period of six calendar months, you qualify for:
 A complimentary Tikiri account to any child living in Sri Lanka nominated by  the account holder (below 15 years of age)with a     deposit of Sri Lankan  Rupees 500/-
 A life insurance cover, free of charge, depending on the account balance maintained as detailed below.

For payments under the insurance cover, the bank would consider the minimum balance maintained in the account for 6 months prior to date of claim.

 A Rupee loan facility of 200% of the account balance for income generating purpose, once you return to Sri Lanka. ( You will have to     agree to make a  minimum monthly depositfor a period of 24 months while you are abroad to qualify for the loan scheme)


NRFC Thilina Sayura

For the first time in Sri Lanka, Seylan Bank presents a scheme for Non Resident foreign currency (NRFC) and Resident foreign currency (RFC) account holders that rewards them in times of joy and stand by them in times of sorrow. These rewards are not selected by a lottery - they are available for all eligible account holders. This scheme is not only for their benefit, it is also for the benefit of their immediate family.


How do I become eligible for Thilina Sayura

You need to maintain a minimum balance of USD 500 or equivalent in another foreign currency for a period of six months immediately preceding the date of claim for a Thilina Sayura rewards.


For what can I obtain Thilina Sayura Rewards

 When your housing dream comes true :-
    After you have bought or completed building a housefrom your own funds or a loan obtained from SeylanBank, you will receive     between Rs. 10,000/- -  25,000/-as a reward. This benefit is only for the account holder.
 At your marriage :- You will receive a half-sovereign gold coin.
 For an international achievement in sports, drama, music or art :-
    When you or a member of your immidiate family winsan international competition in sports, drama, musicand art, representing Sri     Lanka, a  reward of Rs.50,000/- will be given.
 Foryour child's educational achievements :- If your child's test scores at the year 5 Scholarship exam, Ordinary Level exam or Advance     Levelexam places him/her within the top 10 highest scoring scholars ofthe district, he/she will receive,

    Year 5 scholarship     - Rs. 25,000/-
    GCE O'Level     - Rs 50,000/-
    GCE A' Level     - Rs. 50,000/-

 Foremergency travel to Sri Lanka :- If you are stranded overseas with no means of returning to Sri Lanka, you will receivethe actual     cost of the one    way air ticket to return home to Sri Lanka, not exceeding Rs.75,000/- (providingno violation of the laws or abrogation     of the employment contract   has taken place)
 ForSurgery :- If you or a member of your immediate family has to undergo   surgery in Sri Lanka or abroad, your expenditurewill be     reimburse with an  amount equivalent to theminimum balance (In Sri Lankan Rupees) that hasbeenmaintained in your account, for     the six months immediately preceding your application, up to a maximum of Rs. 100,000/-
 Forbereavement :- At the death of the account holder or a member of the immediate family, Rs. 25,000/- will be paid.

Please note: All claims for Thilina Sayura rewards must be submittedwithin 60 days of the event.

What should I do to obtain benefits from Thilina Sayura?

 If you are in a foreign country :- Fill in the preliminary Thilina Sayura application form and mail to the address below orfax to 00 94 1     421597.    Please remember to includethe name of an adult family member in Sri Lankawho could be contacted for more     details.  Seylan Bank, Business DevelopmentDepartment, Level 9, No. 90 Galle Road, Colombo03.
 If you are in Sri Lanka :- Please visit the nearest Seylan Bank and fill in the Thilina Sayura application form.

Who constitutes a member of your immediate family?

 If you are married :- Your spouse and any children under 18 years.
 If you are single :- Your parents and any unmarried siblings under 18 years.