“Seylan Thilina Sayura” rewards the migrant employees and expats with high interest rates for NRFC/RFC Fixed Deposits
Seylan Thilina Sayura” is a distinctive scheme offering a range of both monetary and non-monetary benefits to account holders on significant occasions in their life while earning interest from foreign currency accounts. Seylan Bank adhering to its core promise as the bank with a heart, sensing the pulse of its customers, is the only bank offering a large range of benefits to the hard working migrant community of the country. Aligning with the Government’s initiative of enabling Sri Lankan migrants in countries such as Britain, Canada, the United States, Australia, New Zealand, Italy, Sweden, Switzerland and France to apply for dual citizenship, Seylan Bank paves a path for them to enjoy the best of both countries. Customers maintaining a required balance for 3 years in their Seylan NRFC or SFIDA accounts will be entitled to apply for dual citizenship while enjoying the benefits offered by the bank.
The 2014 Annual Report of the Central Bank of Sri Lanka cited the total number of departures for foreign employment has shown a significant growth by 2.5% compared to 2013. The report also states an increase in terms of skilled labour, professionals, and middle level, clerical and unskilled categories.
Leveraging on this growing trend, Seylan Bank has extended their NRFC/RFC fixed deposits from a period of 1 year to 5 years with an above industry average interest rate up to 4.25% at maturity, and up to 3.75% monthly. Further, customers who maintain USD 500 in their account for saving or fixed deposits for a minimum of 6 calendar months will benefit by a life insurance cover worth up to Rs. 1 million. In addition, a free holiday package of 1 day full board for two persons at a Star class hotel will be awarded to account holders with a balance of USD 25,000. In addition, the account holders are entitled for the following benefits during significant occasions in their life such as maximum of Rs. 40,000 for their wedding, up to Rs. 35,000 for the birth of their child, up to Rs. 25,000 for cataract surgery, maximum of Rs. 100,000 for surgery, and up to Rs. 10,000 for reimbursement of Sri Lanka Bureau of Foreign Employment fee.
Mr. Tilan Wijeyesekera, Deputy General Manager – Marketing and Personal Banking of Seylan Bank commenting on the reward scheme said, “We understand the hardships of the migrant employees and believe that the efforts of this group should be acknowledged. The migrant worker community accounts for nearly 15% of the country’s working population. In this regard, the bank has initiated this scheme to reward the premier net foreign exchange earners of the nation. Hence the reward scheme caters to both ends of the working spectrum which includes domestic workers to high end professionals.”
Seylan Bank also gives the opportunity to open Special Foreign Deposit Accounts (SFIDA), an interest earning deposit account for foreign Nationals and Sri Lankan citizens residing overseas. The currency, in which the account is maintained, can be converted to any other designated currency at the discretion of the account holder as and when required to facilitate transactional needs. Those who maintain a balance of USD 25,000 or equivalent will be automatically entitled for the Hotel stay once every two years.
