Commercial Bank of Ceylon PLC- NRFC Account

Saving Money

These are special accounts primarily meant for Sri Lankans working abroad. You may open this account with our Bank either while you are employed abroad or within 90 days of your return to Sri Lanka. The NRFC account enables you to save your hard-earned foreign exchange and earn interest too in the same foreign currency. Joint accounts are possible provided all account holders are employed abroad.

Opening & Operation of Account and Interest Earning

NRFC Savings Accounts

You may open an NRFC Savings Account with us in any of the following currencies and earn competitive rates of interest.

Currency	Minimum Deposit
US DOLLARS	USD	25
STG. POUNDS	GBP	25
SWISS FRANCS	CHF	500
JAPANESE YEN	JPY	10, 000
AUSTRALIAN DOLLARS	AUD	25
SINGAPORE DOLLARS	SGD	25
CANADIAN DOLLARS	CAD	40
HONG KONG DOLLARS	HKD	200
EURO	EUR	25

NRFC Fixed Deposit Accounts

These accounts could be opened for periods ranging from 1,3,6 and 12 months where higher rates of interest are paid. Minimum balances required to open accounts are as follows.

Currency	Minimum Deposit
US DOLLARS	USD	5, 000
STG. POUNDS	GBP	5, 000
SWISS FRANCS	CHF	5, 000
JAPANESE YEN	JPY	100, 000
AUSTRALIAN DOLLARS	AUD	5, 000
SINGAPORE DOLLARS	SGD	5, 000
CANADIAN DOLLARS	CAD	5, 000
HONG KONG DOLLARS	HKD	5, 000
EURO	EUR	5, 000

Interest

Interest will be calculated on the daily balance and credited to your account quarterly enabling you to earn much more than published rates. Special rates of interest could be negotiated for larger Fixed Deposits.

The interest earned on NRFC accounts is free of all taxes even after your return to Sri Lanka. NRFC funds are freely transferable without being subject to Exchange Control Regulations.

Deposits

All types of inward remittances in foreign currency as given below will be accepted in the credit of NRFC ACCOUNTS.

1 .	Telegraphic / SWIFT transfers.
2.	Bank drafts drawn on Commercial Bank of Ceylon Limited on which immediate credit is given without any charges/commission.
3.	Bank drafts drawn on foreign currency in the currency of the respective countries. eg: USD drafts drawn on New York GBP drafts drawn on London
4.	US$ drafts payable at local banks or issued by local banks on which credit will be given within 4 working days without any change.
5.	Foreign currency notes ( Full value of the deposit amount will be credited )
6.	Traveller's Cheques and Personal Cheques.
7.	Bank drafts drawn on local banks.

Withdrawals

Withdrawals from NRFC Accounts are allowed on the following basis.

1 .	Calling over personally and on production of your Passport / NIC.
2.	By CAT Card through any ATM displaying Cirrus logo in the currency of the country.
3.	On your written instructions to pay another party; eg. For the upkeep of your family.
4.	Written instructions for the purpose of remitting abroad in any foreign currency.
5.	For obtaining Traveller's Cheques and Currency Notes for travel abroad.

Statements

Quarterly (Monthly on request)

Account Operations

1.	Your account could be operated from any Branch, Service Point or Minicom Centre of the Bank located throughout the island.
2.	Our Holiday Banking Centre at Colombo 7, located opposite the Town Hall and Minicom Centres at Cargills Food City outlets are open throughout the year for your convenience.
3.	CAT (Commercial Automated Teller) Card could be obtained from all NRFC Savings Accounts, which will enable you to withdraw funds from any of the ATMs locally and allover the world, which display the Cirrus Logo.
4.	Through Internet Banking - log onto our website www.combank.lk and follow the instructions appearing on the screen.

Other Advantages

1 .	Sri Lanka Rupee Loans / Overdrafts at concessional rates. This facility enables you to retain the foreign currency deposits intact.
2.	Priority banking facilities for the account holders who maintain a deposit of US$ 50,000/- or more.
3.	NRFC Accounts can be freely operated even after your return to the island for permanent residence.
4.	Arrangements can be made for a member of your family or friend to operate this account on your behalf.
5.	Possibility of appointing a nominee to whom the funds in the account are to be paid in the event of death.
6.	Standing Orders are effected without any commission.
7.	Switching from one currency to another at competitive exchange rates.
8.	Above all you will receive our personalized service.

Interested ? Then call our NRFC Department on + 94 11 2330408 or your Nearest Commercial Bank branch and find out more !

Download Application:	NRFC Savings Account	\| Interest Rates	\| Tariffs	\| Request Information
	NRFC Fixed Deposit Account