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PERSONAL BANKING LKR SAVINGS AND DEPOSITS FCY SAVINGS AND DEPOSITS

PERSONAL BANKING

Inner Circle

  • What is the minimum deposit I have to maintain to be an Inner Circle Customer?
    A total relationship (portfolio) of Rs.500, 000/= with the bank.
  • Is there any mandatory accounts which need to be maintained to be Inner Circle?
    Yes, maintenance of a Current or Savings Account is mandatory to join the Inner Circle membership.
  • What are the types of account in which the portfolio balance can be maintained?
    All Current Accounts
    All Savings Accounts (Local or Foreign currency)
    All types of Term Deposits (Local or Foreign currency)
  • Are there any preferential interest rates for IC customers?
    LKR FD - 0.25% above the normal rate
    FCY FD - 0.15% above the normal rate
  • Are there any special benefits on AMEX cards for IC customers?
    AMEX Gold credit card will be issued, with no joining fee & the 1st year annual fee waiver.
  • Can I get an ATM card for this account & if so what are the charges?
    Yes, you can get a branded ATM card free of charge & there will be an annual fee of Rs.250/=
  • What is my ATM withdrawal limit per day from the IC ATM Card?
    Rs. 80,000/=
  • Why is Inner Circle known for the prioritized service & banking at your convenience?
    Inner Circle customers have dedicated counters available at main branches & an Inner Circle Ambassador to assist them in all their banking needs. Also you enjoy 24 hour account access through a dedicated hotline 4 626262 & 4 free transactions of Bank-At-Your Doorstep Service per month.
  • What are the services available through Bank-At-Your-Doorstep?
    Cash Withdrawals
    3rd Party Cash withdrawals
    Cash Deposits
    Credit Card Payments
    Loan/Leasing Payments
    Utility Bill Payment
    Cheque Deposits
    Foreign Currency Deposit
    Bank Draft deposits
    Collection of completed application forms.
  • Are there any special tariffs for IC customers?
    - Currency issuance/Purchasing - 50% of normal commission
    - TC issuance -1.1% of the total value
    - Pay order / cheque purchasing - 0.25% from the pay order value without a minimum charge
    - FCY Draft Issuance - 50% of normal commission
    - FCY Draft / cheque purchasing - 0.25% from the pay order value without a minimum charge
    - FCY draft cancellation / loss or re issuance - Free of charge
    - Inward remittances - 50% of normal commission
    - Standing Instructions - Free of charge
    - Over the counter and clearing transactions - Free of charge
    - 10% discount on Safe Deposit Locker Charges
    - Over Line fess - Rs.750/-
  • What other benefits will I be eligible for?
    - Dedicated counters - available at main branches
    - Branded ATM card - Free
    - 4 free withdrawals from HSBC, Sampath and Commercial Bank ATMs. Rs.50 will be charged for any additional withdrawal from HSBC or Sampath ATM only. Additional withdrawals from Commercial Bank ATM's will be free of charge.
    - Withdrawals from Cirrus network ATMs (except Sampath/ HSBC) will be charged Rs.150 per transaction
    - Internet banking - No set up fee
    - Apply for AMEX Gold credit card with no joining fee and 1st year annual fee waiver
Private Banking

  • How do I become a Private Banking customer?
    Maintain a minimum of
    - Rs.5 Million (or equivalent FCY), in deposits
    - Total relationship of Rs.10 Million in both deposits and loans
    - Repurchase agreements (REPOs) and/ or investment of Rs.20 Million
  • What are the special benefits I will enjoy as a Private Banking customer?
    - One-on-one service by a dedicated Relationship Manager
    - Exclusive Private Banking Centre and special service areas at branches
    - Pre approved Sri Lankan Airlines Platinum American Express Credit Card or American Express Gold Credit Card
    - 6 Free transactions of the Bank-At-Your-Doorstep service

    You are also entitled to:
    - Free cheque books
    - Unlimited free withdrawals from any ATM in Sri Lanka
    - Savings and current accounts without a minimum balance requirement
    - Preferential interest rates on Fixed Deposits
    LKR FD - 0.50% above the normal rate
    FCY FD - 0.25% above the normal rate
    - Bancassurance
  • Special tariffs and fee waivers
    - Currency issuance and purchasing - Free of charge
    - TC Issuance - 0.5% of the total value
    - Pay order issuance - Free of charge
    - Pay order / cheque purchases - 0.15% of the pay order value without a minimum fee
    - FCY draft issuance - Free of charge
    - FCY Draft Purchase - Handling fee of USD1
    - FCY Draft cancellation/ loss or re issuance - Free of charge
    - Inward remittance charges - No local charges
    - Standing instructions - Free of charge
    - Safe deposit lockers - Free of charge (subject to availability)
  • What are the Pre approved American Express Credit Cards offered to you?
    You will be eligible to obtain a Sri Lankan Airlines Platinum American Express Credit Card or an American Express Gold Credit Card with the following limits:

    Deposit (LKR) Card Limit (LKR) *
    5Mn to 8Mn 400,000
    8Mn and above 5% of the deposit

    * Maximum limit will be Rs.750, 000
    � Sri Lankan Airlines Platinum American Express Credit Card - No fee waivers
    � American Express Gold Credit Card - Joining fee and first year annual fee waived
  • What is the benefit of obtaining a Sri Lankan Airlines Platinum American Express Credit Card and what is the card annual fee?
    The SriLankan Airlines Platinum American Express Card offers a host of exclusive privileges and unsurpassed rewards to serve the lifestyle and traveling needs of discerning Cardmembers. In addition to enjoying an array of Platinum privileges, Cardmembers will earn up to 3 FlySmiLes miles for every Rs. 100 spent at selected Platinum Merchant Partners. Cardmembers may also earn 2 FlySmiLes miles for SriLankan Airlines tickets purchased at Platinum Travel Partners as well as on all purchases made overseas. For all other purchases, Cardmembers will earn 1 FlySmiLes mile for every Rs.100 spent.

    The accumulated FlySmiLes miles can be redeemed for flights on SriLankan Airlines.
    The card annual fee is Rs.4, 000
  • Why should I select Private Banking over packaged products offered by other banks?
    Private Banking is offered exclusively to those who have reached the pinnacle of success and is designed to recognize and reward the special relationship that we share with you. Private Banking is a relationship package that combines exclusive banking, investments and a host of other financial privileges with the highest level of personalized service and value. As a Private Banking customer at Nations Trust Bank you'll be the focus of attention every time you require premium banking facilities.
  • What are the services offered by the Relationship Manager?
    The Relationship Manager is a professional assigned to provide you with financial solutions and give you undivided attention. Relationship Manager may be located at your closest branch or at our exclusive Private Banking Centre.
  • What are the documents required to join Private Banking?
    � The Private banking account opening form should be completed. � Copy of the National Identity Card (NIC) / valid Passport � Documentary evidence for address verification


Nations Saver
  • Who can open Nations Saver account?
    Srilankan national over 18 yrs holding a valid NIC or valid passport residing in Srilanka.
  • What is the initial deposit amount for Statement saving account & Passbook saving account?
    a. Statement saving account initial deposit amount is Rs.1000/-
    b. Passbook saving account initial deposit Rs.5000
  • Is there a minimum balance maintenance charge involved with Passbook saving account and Statement savings account?
    There's no minimum balance maintenance charge applicable for these accounts.
  • What are the average balance maintenance charges for Passbook savings account and Statement savings account?
    If the savings account average balances falls below Rs.1000 there will be a charge of Rs.50 as average balance maintain charges
  • What id the interest paid on Nations Saver?
    A balance based interest rate structure will apply for Nations Saver account. Interest is calculated on the daily available balance and credited monthly. The current interest rate structure is given below (subject to change according to market conditions)

    • above Rs. 500,000 - 4.00%p.a
    • Rs.100,001 - 500,000 - 3.00%p.a
    • Rs.1, 001 - 100,000 - 2.50%p.a
    • Rs.0 - 1,000 - 2.00%p.a
  • What are the documents needed to open a Nations saver account?
    a. Copy of Nic or Passport
    b. Document evidence for address verification-Electricity, water and Telephone (land line) bill.
    c. Contact details - Land line / mobiles nos.


Nations EmPower Account

  • What is "Nations EmPower" account?
    Nations EmPower is the smart way to manage your banking needs whilst enjoying a host of benefits and privileges. It is the 'One Stop Shop' financial solution for the busy executive, complete with special privileges.
  • What are the special privileges of this a/c?
    • Pre-approved Overdraft facility equivalent to one month's nett salary (subject to a maximum of Rs.100,000. Current account is mandatory)
    • American Express Credit Card with joining fee waived
    • Savings and current accounts without a minimum balance requirement and opened without an initial deposit.
    • 'Sweep in- Sweep out' facility
    • 2 free withdrawals per month from selected other bank ATMs
    • Setting up of Standing Instructions free of charge
    • Track your transactions through periodic statements
    • E-statement facility
    • Account opening at your doorstep
  • What is the eligibility criteria to open Nations EmPower?
    Sri Lankan nationals over 18 yrs, holding a valid National Identity Card (NIC) / valid Passport and residing in Sri Lanka or non-nationals who have valid resident Visa

    The account holders must be permanently employed & earning a regular monthly net salary of Rs.20,000 or above(salary to be credited to the account every month).
  • What is the interest percentage on "Nations EmPower" account?
    Interest will be calculated on the available balance on a daily basis and credited to the account monthly. Tiered Interest rates based on account balance:

    • Above Rs. 500,000 - 4.00%p.a
    • Rs.100,001 - 500,000 - 3.00%p.a
    • Rs.1, 001 - 100,000 - 2.50%p.a
    • Rs.1 - 1,000 - 2.00%p.a
  • How is the overdraft facility granted?
    It is equivalent to one month net salary or Rs.100,000.
  • Do I have to maintain minimum balance amount in the a/c?
    There is no minimum balance amount required for account holders
  • In case I am unable to send the remittance, will my account be closed?
    It will not be closed, however the account will be converted to a normal savings a/c
  • What is the initial deposit for "Nations EmPower" account?
    The account can be opened with zero balance, and could be funded through the Monthly salary remittance


Money Market Savings

  • What is the unique feature of the Money Market Savings account?
    Money Market savings gives you the opportunity to earn higher returns whilst enjoying the benefits of a regular savings account. Standard savings accounts offer fixed interest rates determined by the bank whereas the Money Market Savings interest rate is linked to the Sri Lanka Inter-bank Offer Rate (SLIBOR), which lets you enjoy the benefit from inter-bank interest rate movement. You can earn interest rate up to 19.5% p.a. based on your daily account balance with a guaranteed minimum return.
  • Who can open Nations Monet Market Savings account?
    Sri Lankan nationals over 18 yrs, holding a valid National Identity Card (NIC) / valid Passport and residing in Sri Lanka
  • What is the initial deposit amount?
    Rs.10,000/-
  • What are the unique benefits of this account?
    • Capacity to earn interest up to a maximum of 19.5% p.a. depending on the movement of SLIBOR (the interest applicable on the account will be 7% below the SLIBOR for the particular day)
    • Minimum guaranteed interest rate of 5%p.a. (subject to change) for balances above Rs.10,000
    • Any withdrawal from Commercial Bank ATM at Rs.15/-. All other bank ATM withdrawals will be charged at the rate charged by the respective bank.
    • ATM annual fee is Rs250/- (ATM issuance fee is waived off)
    • Account balance can be used as a security deposit and the OD pricing will be 2% above SLIBOR
  • What is the minimum balance requirement for this account?
    A minimum balance of Rs.10,000 need to be maintained in the account to be eligible to earn interest. Interest will not be paid for balances below Rs.10,000. Rs.1,000 will be blocked in the account and the customer will not be able to withdraw this amount.
  • What are the documents need to open Money Market Savings Account?
    • The Bank's standard account opening forms
    • Copy of the National Identity Card (NIC) / valid Passport
    • Documentary evidence for address verification - electricity/ Water/ Telephone (Land Line) Bill


Nations Kidz Investment Plan

  • What is Nations Kidz Investment Plan?
    An investment plan that will enable customers to save a fixed amount monthly and target to accumulate a guaranteed lump sum at the end of an agreed time period. The investment can be made targeting to fulfill future needs (or a specific event) of the account holders child. As the account is opened under the parent/ guardian's name, it can be withdrawn at maturity of the plan without having to wait until the child turns 18 years.
  • How does it work?
    The account need to be opened by the parent/legal guardian. The customer can choose a desired target sum and the period of investment, and accordingly an investment notice will be issued to the customer with the computed fixed monthly commitment amount.
  • What is the minimum / maximum target amounts available?
    Minimum plan - Rs.100,000
    Maximum plan - Rs.5,000,000
  • What are the available periods of investment plans?
    From 3years to 18 years (subject to a maximum until child reaches 18 years of a
  • What is the value of initial deposit required?
    Rs.5000/- or the monthly installment amount whichever the highest.
  • Is there a minimum balance requirement?
    There will be no minimum balance requirement. However, the fixed monthly savings amount must be remitted continuously so that you will be able to achieve the targeted sum of the investment plan.
  • What is the interest rate applicable on the investment plan?
    10%p.a. (interest will be calculated daily and credited monthly)
  • What are the key benefits of this account?
    • A guaranteed interest for the entire period of investment
    • Investment Plans ranging from 3 to 18 years
    • Investment Plans from Rs.100,000 to Rs.5 million
    • Free Life Insurance Cover.
  • How does the free life insurance cover benefit the accountholders?
    In the event of the untimely demise of the account holder (before maturity of plan), the difference between the target amount and the capital & interest accumulated in the Investment Plan account will be paid by the insurer. The proceeds from the Investment Account and or insurance will be credited to a Nations Kidz Savings Account opened in the name of the beneficiary child.
  • How does the insurance cover work?
    The Bank will arrange a life insurance cover within two months after opening the investment plan (provided the customer is below sixty years of age). The insurance cover is limited to a maximum of Rs. 2,000,000, irrespective of the amount targeted and is applicable where at the time of demise and/ or claim becoming payable the amount in the Investment Plan is less than Rs.2, 000,000. The insurance cover will cease upon the customer reaching sixty years of age.
  • Are withdrawals allowed from this account?
    Since this is an investment account. No partial or early withdrawals will be allowed prior to completing the investment period. However they may be allowed in exceptional circumstances at the sole discretion of the bank.
  • Will the customer be issued a passbook?
    No. An investment notice will be issued instead, for the customer to keep track of the monthly payments. Statement will be issued bi- annually.
  • What will happen if I miss the monthly deposit or fail to make the deposit on the specified date?
    A delay/ non payment of the monthly deposit will affect the target investment amount that you wish to achieve by the end of the investment period. This means that you may end up with a sum less than the amount targeted at the beginning of the investment.
  • What will happen if I miss 2 monthly installments?
    If you fail to make the monthly deposit on two consecutive months in addition to the effect of Point No. 13, the insurance benefit will lapse and you will not be entitled for the insurance cover thereafter. However, you may continue the Investment Plan until maturity at the given interest rate.
  • Can I get back on track if I miss one or more monthly payments?
    Even though you may make a deposit to cover the value of payments missed, this will not bring the plan back to the initial full target investment amount. This will be mainly due to the loss of interest during the months of non payment.
  • Can this be opened as a joint account?
    No. The account can be opened only under one parent/ guardian's name.
  • What are the eligibility criteria?
    Sri Lankan nationals above 18 years of age
  • What are the documents required to open a Nations Kidz Investment Account
    • Nations Kidz Investment Plan account opening form
    • Copy of the National Identity Card (NIC )/ valid Passport of the parent / guardian
    • Copy of the child's Birth Certificate
    • Health declaration form of Sri Lanka Insurance Ltd. should be properly filled by the depositor
    • MIS form
    • Terms and conditions
    • Billing proof (latest utility bill)
  • Will the insurance benefit still continue to be in effect even if the customer is above 60 years of age?
    The insurance benefit will cease when the customer reaches 60.
  • How can I ensure that I achieve the full target sum at the end of the investment period?
    • Set up a Standing Instruction from a Nations Trust Bank account
    • Set up a Standing Instruction from your AMEX Credit Card
    • Set up a Standing Instruction from another bank account
    • Deposit the monthly installment on or before the due date
  • Does withholding tax apply to this account?
    Yes. WHT will apply as stipulated by Inland Revenue Department and as declared by the customer.
  • Can I select the date on which the installment should come to the account?
    If you open the account during the period of 01st to 15th of the month, the due date will be 01st of each month and for accounts opened from 16th to 30th, the due date will be 15th of each month.
  • Can I get the money at maturity or should I wait until the child turns 18?
    You will receive the target amount upon maturity of the Investment Plan.
  • If I am a Kidz account holder can I transfer the funds in the Kidz account to Kidz Investment Plan?
    No. Transfers will not be allowed from Nations Kidz accounts.
  • What is the date of maturity for my plan?
    The plan will mature on the same date the account was opened, at the end of the agreed investment period and the customer will be able to withdraw the funds upon maturity of plan.


Nations Current Accounts (Personal / Business)

  • Who will be eligible to open a C/A?
    • Individuals over 18 yrs of age can open current accounts individually or jointly
    • A citizen of Sri Lanka holding a valid National Identity Card (NIC) / valid Passport and residing in Sri Lanka.
    • Sole Proprietorships / Partnerships / Limited Liability Companies / Clubs / Societies registered in Sri Lanka
    • Non - National who has valid resident Visa
  • What are the Initial Deposit & Minimum Balance Requirements?
    • Initial deposit :
      Personal Current Account - LKR 10,000/-
      (Initial deposit for C/A should be always in cash but a cheque drawn by the customer himself shall also be accepted only in respect of Personal Current Accounts. Third party cheques will not be accepted under any circumstance as the initial deposit).

      Business Current Account - LKR 50,000/-
    • Minimum Balance Requirement
      Personal C/A - Minimum Daily balance LKR 5,000/-
      Business C/A - Minimum Daily balance LKR 50,000/-
  • What are the special features of Nations Current Account?
    • Over Draft facilities can be arranged
    • Standing instructions are accepted
    • Cheque books will be issued
    • Statements issued weekly, monthly, quarterly or yearly as requested by the customer
    • ATM card will be issued (free of charge) at a annual fee of Rs.250
    • No interest is paid on credit balances
    • Maintained in Sri Lankan Rupees
    • Internet Banking and Phone banking services available free of charge**
    • Any withdrawal from Commercial Bank ATM at Rs.15/-. All other bank ATM withdrawals will be charged at the rate charged by the respective bank.
      ** In the case of Joint accounts, automate services are available only if signing instructions are either party to sign
  • Are there any service charges applicable on the account?
    A monthly service charge of Rs.500 will be applicable if the minimum balance is nor maintained in a particular month. The account will be subject to debit tax of 0.1%p.a.
  • What are the documents that need to be provided in order to open a Nations Current Account? Personal Current Account
    • Copy of the National Identity Card (NIC) / valid Passport
    • Documentary evidence for address verification - electricity / Water/ Telephone (Land Line) Bill
    • Introduction by an existing Current account holder of the Bank.
      In special cases the Manager may introduce based on the evidence of past performance.

      • Business Current Account
      • The Bank's standard account opening forms should be completed
      • Business Registration
      • Form 48 or 20 or 01 (Details of Directors)
      • Form 65 or 41 (Details of Incorporation)
      • Form 36 or 13 ( Address Verification)

        Mandatory Information
      • Mailing address - Electricity/ Water/ Telephone (landline) bill
      • Contact details - landlines/mobile numbers
      • Employer's name and address
      • Account holders designation


Nations Kidz Savings Account

  • Who will be eligible to open a Nations Kidz Savings Account?
    This product is for Sri Lankan nationals under 18 years of age, account should be opened by a parent or guardian on behalf of the child
  • What is the value of initial deposit required?
    Rs.1000
  • Is there a minimum balance requirement?
    No minimum balance requirement.
  • Are withdrawals permitted from this account?
    No. Withdrawals may be allowed for critical requirements (i.e education and medical, etc) based on valid documentation at the sloe discretion of the bank.
  • What are the features and benefits of this account?
    • The account can be opened only as a passbook savings.
    • Interest Rate will be Nations Saver Highest tier +3% per annum (Current)
    • Free ATM card for balance inquires
    • Free internet banking facility for balance inquiry
    • Customers will be eligible for balance based gifts once the account balance reaches the required threshold (refer table below) or when he makes an initial deposit amounting to the threshold. The gifts scheme will be applicable only for children under 15 years.
  • Account Balance Available gifts (choice of one)
    initial Deposit Rs.1,000/- Cap
    Teddy Bear
    Stationery Set
    Balance reaches Rs.10,000/- Handy Back Pack
    Binoculars
    Balance reaches Rs.25,000/- Underwater Camera
    FM Radio with Alarm Clock
    Balance reaches Rs.50,000/- BMX Bike
    Scooter
    Gift voucher from Sarasavi / Vijitha Yapa Bookshop Rs 6,000/-
    Above Rs.100,000/- Mountain Bike
    Ipod
    Mobile Phone (Nokia)
    Gift Voucher from Sarasavi / Vijitha Yapa Bookshop Rs 15,000


  • What are the documents required to open a Nations Kidz Account?
    • The Bank's standard account opening form should be completed
    • Copy of the National Identity Card (NIC) / valid Passport of the parent/guardian
    • Birth certificate of the child
    • Documentary evidence for address verification


Nations Fixed Deposits

  • What are the Eligibility criteria to open a Nations Fixed Deposit?
    A citizen of Sri Lanka above 18 years of age holding a valid National Identity Card (NIC) / valid Passport and residing in Sri Lanka
  • What is the Minimum deposit to open a Nations Fixed Deposit?
    Rs 50,000/-
  • What are the documents required to open a Nations Fixed Deposit Account?
    • The Bank's standard account opening forms
    • Copy of the National Identity Card (NIC) / valid Passport Documentary evidence for address verification - electricity/ Water/ Telephone (Land Line) Bill


Nations Call Deposits

  • What are the Eligibility criteria to open a Nations Fixed Deposit?
    Sri Lankan nationals over 18 yrs, holding a valid National Identity Card NIC) / Valid Passport and resident Visa
  • What is the Minimum deposit to open a Nations Fixed Deposit?
    Minimum deposit is Rs 100,000/-
  • What are the Product features?
    • Fixed rate of interest will be paid for the period agreed (Please refer the deposit rates for more information)
    • Minimum of 7 days and after that can be liquidated at any time
    • If liquidated before 7 days from the date of placement (including the date of placement and excluding the date of liquidation), no interest rate will be paid.


Nations Auto-Sweep Account

  • Who can open a Nations Auto Sweep Accounts?
    • Sri Lankan nationals over 18 years, holding a National Identity Card / valid passport and residing in Sri Lanka
    • Non national holding valid resident visa
  • What is the Initial Deposit to open a Nations Auto Sweep Account?
    Rs. 25,000
  • Is there a Minimum Balance Maintenance fee applicable to Nations Auto Sweep Accounts?
    Minimum balance of Rs.10,000 needs to be maintained in the account. A fee of Rs.250 (per month) will be charged if the balance in the current account falls below Rs.10, 000
  • What are the special features of this account?
    • The surplus funds in the current account will be automatically transferred to a savings account
    • These funds will earn interest on a tiered structure based on the balance
    • If the balance in the current account falls below Rs.10,000, funds will automatically sweep back from the savings account to facilitate payments
    • Cash deposits and withdrawals can only be made to/from the current account
    • A fee of Rs.1, 000 (per month) will be charged if the number of transactions in the current account exceeds 20
    • Joint accounts can be opened
  • What are the special benefits of Nations Auto- Sweep Account?
    • Free ATM card with a higher withdrawal limit of Rs. 100,000 per day and free unlimited withdrawals from Commercial Bank ATMs
    • First cheque book issued free of charge
    • Bank - At - Your-Doorstep service with 4 free transactions per month
    • FCheque returns - 50% discount for Inward/ technical
    • Credit facilities - Overdraft facility
      - Overdrafts against Fixed Deposits priced at 2.5% above the FD rate

      - Concessionary pricing on secured lending
    • Safety Deposits Lockers without a Fixed Deposit
  • What are the documents required to open Nations Auto Sweep Account?
    • The Bank's standard account opening form
    • Copy of the National Identity Card (NIC) / valid Passport
    • Copy of Business Registration (For Business current accounts)
    • Billing proof (Recent utility bill as proof of address)
    • Current account introduction

    • above Rs. 500,000 - 4.00%p.a
    • Rs.100,001 - 500,000 - 3.00%p.a
    • Rs.1, 001 - 100,000 - 2.50%p.a
    • Rs.0 - 1,000 - 2.00%p.a


FCY SAVINGS AND DEPOSITS
Non Resident Foreign Currency Account (Savings and Fixed Deposits)


  • What are the Eligibility criteria to open a Non Resident Foreign Currency Account?
    • For Sri Lankan citizens employed abroad and non-nationals of Sri Lankan origin (born in Sri Lanka) who have been /are resident outside Sri Lanka. (Supported by documentary evidence)
    • Account can be opened while abroad or within 90 days of return to Sri Lanka
  • What is the initial deposit to open a NRFC Account?
    • NRFC Savings – USD 100 or equivalent in foreign currency
    • NRFC Fixed Deposits – USD 1000 equivalent in foreign currency
  • Is there a Minimum Balance Maintenance fee applicable to RFC Accounts?
    No.
  • What are the credits allowed to Nations NRFC accounts?
    • Inward remittances in foreign exchange in favor of the account holder
    • Foreign exchange brought to Sri Lanka on arrival by the account holder
  • Funds in a NRFC Account can be utilized for what purposes?
    • Making any payment in foreign currency to or for the credit of a person resident outside Sri Lanka Transfer of funds from one NRFC to another NRFC
    • Making any payment in Sri Lanka in Rupees converted at the prevailing rate of exchange
  • What are the documents required to open a NRFC Account?
    • - For Sri Lankan citizens employed abroad
      • Valid Passport
      • Employment Visa (visa endorsement copy should be taken)
      • Employment Contract (optional)
      • Address verification for the permanent address in Sri Lanka.
    • For non-nationals of Sri Lankan origin
      • Valid Passport (Place of birth in the passport should mention the place of birth or country of origin as Sri Lanka)
      • If the above criteria not mentioned in the passport birth certificate also can be accepted from non-nationals of Sri Lankan origin.
      • Address verification (foreign address should be obtained)
    • - For Sri Lankan citizens who have worked abroad and returned to Sri Lanka
      • Valid Passport
      • Employment visa
      • Date of arrival to Sri Lanka (the customer can open a NRFC account only within 90 days of return to Sri Lanka)-proof of the passport document can be obtained for justifying same.
      • Address verification for the permanent address in Sri Lanka.


What are the Eligibility criteria to open a Resident Foreign Currency Account?

  • What are the Eligibility criteria to open a Resident Foreign Currency Account?
    • For Sri Lankan Citizens employed abroad and non - Nationals of Sri Lankan origin (born in Sri Lanka) who have been /are resident outside Sri Lanka. (supported by documentary evidence
    • Account can be opened while abroad or within 90 days of return to Sri Lanka.
  • What are the Eligibility criteria to open a Resident Foreign Currency Account?
    • USD 100 or equivalent in foreign currency
    • USD 1000 or equivalent in foreign currency
  • What are the ways in which the NRFC Accounts can be credited with?
    • Inward remittances in foreign exchange in favor of the accountholder
    • Foreign exchange brought to Sri Lanka on arrival by the accountholder
  • Funds in a NRFC Account can be utilized for what purposes?
    • Making any payment in foreign currency to or for the credit of a person resident outside Sri Lanka
    • Transfer of funds from one NRFC to another NRFC
    • Making any payment in Sri Lanka in Rupees converted at the prevailing rate of exchange
  • What are the ways in which the NRFC Accounts can be credited with?
    • Copy of the National Identity Card (NIC) / valid Passport
    • Documentary evidence for address verification
    • Letter of appointment for employed individuals