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Ethera Isura NRFC Account - People's Bank

 Non Resident Foreign Currency Account
"Ethera Isura" NRFC Account from People's Bank is a special account exclusively for saving and earning interest on your hard-earned foreign exchange. Joint accounts could be opened provided all account holders have the eligibility requirements.


Eligibility
  • Applicants must be employed abroad or within 90 days of return to Sri Lanka.
  • Sri Lankans living abroad with foreign citizenship.
Benefits
  • Higher interest rate on your foreign earnings.
  • Interest credited in account currency.
  • NRFC funds are freely transferable without being subject to exchange control regulations.
  • Transactions can be made in any of accepted currencies.
  • No commission is charged for crediting inward remittances to NRFC account..
  • A housing loan at a lower rate of interest.
  • Loans to commence own business at a low rate of interest.
  • International VISA Credit Card facilities on the strength of NRFC Account balance.
  • Rupee loans and overdrafts can be obtained up to 90% against NRFC balances at concessional rates of interest.
  • "Ethera Isura" NRFC deposits are exempted from Income Tax.
Features :     (1) Types of "Ethera Isura" NRFC Accounts
  • Savings Accounts - Interest is calculated on monthly minimum balance and credited to accounts once a year.
  • Fixed Deposits - Interest is calculated at maturity and paid as desired by the account holder. Fixed Deposits are acceptable for periods of 1, 3, 6 and 12 months and are renewable automatically.
     (2) How to open an "Ethera Isura" NRFC Account
  • Complete the application form and send it over with a photocopy of the page of your passport containing your photograph and personal details along with  initial deposit to the People's Bank branch of your choice.
  • The minimum initial deposit needed to open a Savings Account is US$ 50 or the equivalent.
  • The minimum initial deposit for a Fixed Deposit is US$ 1,000 or the equivalent.
    (3) NRFC Accounts can be opened in,
  • US Dollars
  • Singapore Dollars
  • Canadian Dollars
  • Sterling Pounds
  • Australian Dollars
  • Euro
  • Swiss Francs
    (4) Depositing money
         Deposit money by any of the following methods.
    • Deposit foreign earnings by way of Drafts, Personal Cheques, Telex or SWIFT.
    • Travelers Cheques or Foreign Currency notes purchased abroad by the Account Holder.
    • Transfer from other NRFC Accounts.
    (5) Withdrawing money
  • In Sri Lanka Rupees
    • Could be made over the counter on establishment of identity.
    • Could also be transferred to the Accountholder's own accounts or to an account held by a third party on written instructions given by the account holder.
  • In Foreign Exchange
    • Could be remitted to any part of the world on written instructions by the Account Holder.
    • Could also be transferred to a Foreign Currency Account maintained in Sri Lanka.
    • Could be withdrawn in the form of Bank Drafts issued in Foreign Currency for approved purposes.
    • Travelers Cheques and Foreign Currency Notes could also be obtained by Account Holders for travel requirements upon submission of confirmed Air Ticket and Passport.
For further information, please contact Nearest People's Bank Branch Manager
OR
People's Bank NRFC Department
Overseas Customer Services
59, D.R. Wijewardena Mawatha,
Colombo 10.
Tel : +94-11-2332745-6, +94-11-5338459
Fax : +94-11-2332753, +94-11-2433140
SWIFT : PSBKLKLX 023
Telex : 21486 PBFMS CE
E-mail : nrfc@peoplesbank.lk