Chennai Branch

We The Bank of Ceylon (BOC) Started in 1995 in Chennai, having a State-of-the-art infrastructure at par with international standards. BOC the leading Commercial Bank known for its feel at home atmosphere, and updated financial products. BOC offers range of financial products required by a common man or corporate. 

  • 100 % safety being a Government Bank
  • International Standard of Customer Service

 

Complete range of bank facilities available with professional and courteous service

  • Demand Deposits
  • Deposit Accounts

 

Benefits

  • Minimum deposit USD.1,000/- or equivalent in other currencies
  • Very competitive interest rates are paid, depending on the period of deposit
  • The principal and interest are repatriable.
  • Lockers with good storage capacity are available at a nominal rent

 

Eligibility

Indian Citizen

  • An Indian citizen living abroad for employment/ carrying on business or vocation outside India.
     

Foreign Citizen

  • Non-Resident Foreign citizens of Indian origin are also treated on par with non-resident Indian citizens
 

Types of Deposits Accounts

NRE Savings Bank Accounts:
In this account remittance should be made in foreign currency. The same will be converted and held in Indian rupees. Depositors are given a Cheque Book for operating the account. This account bears interest as advised by RBI from time to time. Transfer of funds from this account to other NRE accounts and vice versa are permitted. Balances in these accounts are repatriable.

NRE Term Deposits:
This is a fixed deposit account where deposit amount should be remitted in  foreign currency, which will be converted into Indian rupees and held for a minimum of one year and above.

The interest as well as the principal amount can be repatriated on maturity of the deposits or renewed for further period. Interest rate is fixed as advised by RBI from time to time and tax  at source will not be deducted. Interest is cumulated quarterly and the minimum deposit is equivalent of USD.1,000/-.

(NRO) Non Resident Ordinary/ Savings/ Fixed Deposits:
Non Resident Indians can open both Savings Bank NRO Account and Fixed Deposit NRO Account. Unlike the other accounts, remittances can also be made in Indian rupees. But the balances cannot be repatriated. Attractive interest rates are paid depending on the period of deposit. Interest earned is subject to Indian Income Tax rules. Foreign nationals can also open a NRO account with us. NRO SB account bears interest rate of 3.5 %.

Foreign Currency Non Resident Accounts:
This is a Term Deposit scheme, wherein remittances have to be made in  foreign currency. The account will be held in the following four currencies only, with a period of one year.


No Frills Account  
In this account, customer has to maintain a minimum balance of Rs.10/- only. Customers will be given a Passbook and no Cheque Book is allowed.
 

 

Currencies:

  • United States Dollar (USD)
  • Sterling Pounds (GBP)
  • Euro (EUR)
  • Japanese Yen (JPY)

 

 

Facilities provided by us

  • Trade Finance Facilities
  • Credit Facilities
  • Safety Locker Facilities
  • Treasury & Money Market Operations
  • Correspondent Banking

 

For more details :

Country Manager
Mr. Dhammika Muthukudarachchi
Telephone No

Direct:      + 91 44 39513313
General:   + 91 44 39519999

Fax
+91444204260
   
Deputy Manager Mrs.K.J Yogaratnam
Telephone No +91 44 39519901
Email

dmchennai@boc.lk