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 accountis 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

 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 NRFC savings account balance could be withdrawn on demand.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.20,000 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.

 Travelers 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 travelers 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 deposit for 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 house from your own funds or    a loan obtained from Seylan Bank, 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 wins an international    competition in sports, drama, music and art, representing Sri Lanka, a    reward of Rs. 50,000/- will be given.

 For your child's educational achievements :- If your child's test scores at the year 5 Scholarship exam, Ordinary Level exam or Advance Level exam places him/her within the top 10 highest scoring scholars of the district, he/she will receive,

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

 For emergency travel to Sri Lanka :- If you are stranded overseas with no    means of returning to Sri Lanka, you will receive the actual cost of the one    way air ticket to return home to Sri Lanka, not exceeding Rs. 75,000/-    (providing no violation of the laws or abrogation of the employment contract    has taken place)

 For Surgery :- If you or a member of your immediate family has to undergo    surgery in Sri Lanka or abroad, your expenditure will be reimburse with an    amount equivalent to the minimum balance (In Sri Lankan Rupees) that has    been maintained in your account, for the six months immediately preceding    your application, up to a maximum of Rs. 100,000/-

 For bereavement :- 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 submitted within 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 or fax to 00 94 1 421597.    Please remember to include the name of an adult family member in Sri    Lanka who could be contacted for more details.

   Seylan Bank, Business Development Department, Level 9, No. 90 Galle    Road, Colombo 03.

 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.


If you need any help in your banking matters or if you need to send an urgent message to your family in Sri Lanka, Call us on
94-1-439833, and we'll be there to help you.

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