Non-Resident Foreign Currency Accounts (NRFC)
Eligibility
- Sri Lankan nationals employed overseas
or - Sri Lankan nationals who have returned from overseas employment (account
must be created within 90 days of arrival)
or - Former Sri Lankan nationals who are residing overseas
or - Former Sri Lankan nationals who have returned to Sri Lanka (account must
be created within 90 days of arrival)
or - Foreign Employment Agencies, who are registered with the Sri Lankan Foreign Employment Bureau (SLBFE) and have obtained the prior approval of the Controller of Exchange.
An NRFC Account can be opened with any of the following currencies-
US Dollar (USD)
The Euro (EUR)
British Pound (GBP)
Australian Dollar (AUD)
Japanese Yen (JPY)
Singapore Dollar (SGD)
Canadian Dollar (CAD)
Swiss Franc (CHF)
Norwegian Kroner (NOK)
Swedish Kroner (SEK)
New Zealand Dollar (NZD)
Features
- A choice of designated currencies in which you can maintain your accounts.
- Tax exemption on interest from deposits as per current regulations
- Rupee and FCY Overdraft facilities securing Foreign Currency Fixed Deposits
- Rupee and FCY loans against your NRFC deposit
- Sweep facilities to credit Rupee Accounts at compatible exchange rates
Convenience
- Banking convenience through our 24-hour Phone Banking
- Transfer funds locally, or internationally via the Pay-by-Phone facility
- Banking by fax (special application required)
Relationship
- Priority Banking for personalized care
- Dedicated Relationship Manager just a phone call away
Types of Accounts Available
Savings Accounts
- Minimum deposit requirement is USD 500 or equivalent in designated currency.
- Interest is calculated on the daily balance and paid monthly.
Withdrawals are on request.
Fixed Deposit Accounts
- Minimum deposit requirement is USD 100 or equivalent in designated currency.
- Available for periods of 1, 3, 6 and 12 months, for which
interest is payable on maturity. Unless specified otherwise,
deposits are renewed automatically on maturity at prevailing
interest rates.
Requirements to open an NRFC Account
- The minimum deposit requirement of USD 500 for Savings Accounts, USD 1,000 for Fixed Deposits or its equivalent in designated Foreign Currency.
- A copy of your passport (Photo page) certified by your existing Banker.
- Account opening form duly completed and signed.
- Fax/ Phone indemnity
- Phone Banking application form duly completed and signed.
Remitting Funds to Sri Lanka
- By Cash/ Cheque or Demand Draft drawn in favour of the account holder.
- By Telegraphic Transfer (via SWIFT) to the Standard Chartered Bank, Sri Lanka.
For more information on Remittances, email us, visit your nearest Standard Chartered Branch or call +94 11 2480 444