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Non-Resident Foreign Currency Account (NRFC)

Save your hard earned money with a NRFC savings account at Bank of Ceylon for maximum benefits.

Eligibility to open an account  

  • a)  Sri Lankan nationals who are working abroad under valid work visa.
  • b)  SSri Lankan nationals who have worked abroad under valid work visa and returned to the country during preceding 90 days.
  • c)  Prospective migrant employees can open NRFC accounts prior to departure on production of passport, valid work visa and employment contract.
  • d)  Foreign nationals of Sri Lankan origin who are resident abroad.
  • e)  Migrants who have opened Migrant Blocked Accounts (MBA).
  • f)  An NRFC account holder could open another NRFC account utilizing funds transferred from his/her existing NRFC accounts maintained by another bank/branch irrespective of the currency type.
  • g)  NRFC Minors accounts (Ran Kekulu NRFC) can be transferred to NRFC accounts on reach of the age of 18 years.NRFC Minors accounts (Ran Kekulu NRFC) can be transferred to NRFC accounts on reach of the age of 18 years.

New accounts can be opened even without initial deposits for those who intend to remit funds subsequently.*

Benefits we offer you

  • 100% protection on your investment.
  • Accounts can be opened and transactions can be made in
US Dollar USD Euro EUR
Australian Dollar AUD Japanese Yen JPY
Singapore Dollars SGD Sterling Pounds GBP
Canadian Dollars CAD Chinese Renminbi CNY
New Zealand Dollar NZD Swiss Franc CHF

  • Attractive interest rates.
  • Interest earned on NRFC account is exempted from income tax and interests paid in foreign currency you maintain the NRFC Account.
  • Free life insurance cover due to accidents up to Rs.1.0 Million*
  • Insurance cover up to Rs.50,000/- for loss of baggage s when engaged in foreign travels*
  • 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 Foreign Currency 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 rate 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.