NRFC MINOR Account (Ran Kekulu NRFC A/c) and RFC MINOR Accounts (Ran Kekulu RFC A/c)

Save for your children in designated foreign currency with 100% protection for the investment.
 

1.0  Non Resident Foreign Currency (NRFC) Minor Accounts (Ran Kekulu NRFC Accounts.)

If both the Minor and the parent/ legal guardian are Non Residents (the minor also living abroad) NRFC Minors Accounts (Ran Kekulu NRFC Accounts) can be opened. In this instance Account Opening mandate should be signed by the minor's parent/ legal guardian who is working abroad

2.0  Resident Foreign Currency (RFC) Minor Accounts (Ran Kekulu RFC Accounts.)

If the Minor is a resident in Sri Lanka while the parent/ legal guardian working abroad, RFC- Minors Accounts (Ran Kekulu RFC Accounts) can be opened. However Account Opening mandate should be signed by the minor's parent/ legal guardian who is working abroad.

Designated Currencies

Ran Kekulu NRFC Accounts and Ran kekulu RFC Accounts can be opened from following currencies.

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

Initial Deposit

Initial deposit of US $ 25/- or equivalent designated foreign currency by a remittance, foreign currency notes or transfer funds from Parent/ legal guardian's NRFC Account.

Benefits we offer you

  • If the account balance as at 31st December is over US $ 1000 prior to crediting interest 10% bonus interest will be added for interest earned for that year.
  • Grade 5 Scholarship Rs 25,000/- for students at national level achievement.*
  • Free medical insurance cover up to Rs 150,000/- per year for hospitalization in a private hospital.*
  • Rs 1,500/- per day for hospitalization in government hospital.*
  • Free life insurance cover of Rs 500,000/- due to accident for the guardian up to the age of 70 years. (Maximum cover Rs. 1 Million for two or more accounts of the same guardian)

Documents we need

  • Duly completed mandate signed by the minor's parent/ legal guardian who is working abroad.
  • Photocopies of relevant pages of passport of parent/ parents/ legal guardian together with proof of overseas employment.
  • Copy of birth certificate of the child.