Non-Resident Foreign Currency Account (NRFC)
- Save your hard earned money with an NRFC savings account at Bank of Ceylon for maximum benefits
Eligibility to open an account
- Nationals of Sri Lanka who are residents outside Sri Lanka
- Nationals of Sri Lanka who have returned to Sri Lanka from employment abroad within 90 days of such return
- Non-nationals of Sri Lankan origin, who are residents outside Sri Lanka
- Individuals who have opened Migrant Blocked Accounts (MBA).
- Individuals who maintain NRFC accounts
- Minors resident outside Sri Lanka who are nationals of Sri Lanka or of Sri Lankan origin
*New accounts can be opened even without initial deposits for those who intend to remit funds subsequently
Benefits we offer you
- Accounts can be opened and transactions can be made in
- 100% protection on your investment
- Attractive interest rates
- Interest earned on NRFC accounts is exempted from income tax and interests paid in foreign currency maintained in the NRFC Account
- Free life insurance cover up to Rs.1.0 Million*
- Baggage Insurance cover up to Rs.50,000/- for loss of baggage when engaged in foreign travels*
- Eligible to obtain loan facilities in LKR for any purpose in Sri Lanka acceptable to the bank against the pledge of their NRFC balances*
- Housing loan scheme in foreign currency for construction / purchase of Residential houses in Sri Lanka.
- Foreign currency loan scheme against NRFC balances at lower interest rates
- ‘Ran Saviya’ Loan facility up to Rs.300,000/- for self employment*
- ‘BOC Sarani’ housing loan up to Rs.300,000/- @ 5% Interest*
- No commission for withdrawals and inward remittances at the receiving end
- Debit cards enabling you to obtain cash and buy goods and services anywhere around the globe
- The account can be maintained even after you return to Sri Lanka
- Higher exchange rates when converting to Sri Lankan Rupees
- Internet Banking Facilities through Sri Lanka's largest on-line banking network
* (Conditions apply)
Documents we need
- A photocopy of the appropriate pages of the passport where personal details and photograph appear.
- Copy of valid work visa.
- Duly completed mandate.
- In case of a non-national, documentary evidence should be provided to prove the Sri Lankan origin of the particular person.