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  • Overview
  • Permitted Credits/Debits
  • Benefits

What is it?

Resident Foreign Currency Accounts scheme is for citizens or non-citizens residing in Sri Lanka. It enables them to keep their foreign currency in Sri Lanka.

For whom?

  • Individuals who are citizens or non-citizens residing in Sri Lanka and in a position to deposit foreign currency with a minimum of USD 100 or its equivalent in other designated currencies

Types of Accounts

  • An account can be opened in the form of a Savings or a Fixed Deposit Account

Permitted Credits

  • Initial deposit – a minimum of USD 100 or its equivalent in other designated foreign currencies
  • Inward remittances received
  • Acceptance of any amount in designated foreign currencies as subsequent deposits without Customs confirmation on the passport or the Custom Declaration Card
  • Interest earned in foreign currency on funds held in the account

Permitted Debits

  • Payments within Sri Lanka are offered to account holders maintaining a minimum balance of USD 100 or its equivalent per person.
  • Issuing of Traveller’s Cheques and currency notes against funds held in accounts for travelling abroad following submission of Air Tickets

What are the benefits?

  • Earned interest is free of withholding tax.
  • Free initial ATM card and free SMS ALERTZ service during the first year.
  • High interest rates.
  • Competitive exchange rates.
  • Loan and Overdraft facilities.
  • Ability to transfer funds in any currency between own NRFC accounts, from NRFC to RFC accounts in the same bank or different banks.
  • An additional interest of 0.25% for Sanhinda Saver Accounts (only for USD).

* Conditions apply