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Home » International » Accounts for Nationals » Singithi Surakum

• Overview
• For Nationals
• Non-Resident Foreign Currency Savings Accounts (NRFC) & Fixed Deposit Account
• Deposits, Withdrawals & Restrictions
• Opening a NRFC Account
• Unique Benefits for Specific Accounts
• Singithi Surakum
• Resident Foreign Currency Account (RFC)
• Exporters Foreign Currency Accounts (EFC)
• Foreign Currency Account for Suppliers of Inputs (FCASI)
• Foreign Currency Accounts for Professional Services providers (FCAPS)
• Foreign Currency Accounts for Gem & Jewellery Dealers (FCAGJD)
• Foreign Currency Accounts for International Services Providers And Their Employees (FCAISPE)
• For Non Nationals
• Resident Non-Nationals Foreign Currency Accounts (RNNFC)
• Senior Foreign Nationals Special Accounts
• Special Foreign Investment Deposit Accounts (SFIDA)
• Non Resident Non National Foreign Currency Accounts (NRNNFC)
• Domestic Foreign Currency Account (DFA)
• For Businesses
• International Letters of Guarantee
• Securities Investment Account (SIA)
• Inward Investment Account (IIA)
• Outward Investment Account (OIA)
• International Trade Services
• Inquiries about Foreign Remittances
• Remittances from USA

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• Customer Charter

Singithi Surakum NRFC Savings Accounts For Minors

Who can open a Singithi Surakum NRFC Savings Account?

• The parent/guardian for non-resident minors and/or resident minors whose parent(s)/guardian(s) is/are employed abroad. The minor in whose name the account is opened would be the beneficiary of the deposits made to the account
• The account should be opened in the individual names of the minor only (joint accounts are not permitted) and supported by a copy of the birth certificate
• The minimum initial deposit required is USD 100/- (or its equivalent in any other designated currency) and regular remittances are required

What are the benefits of a Singithi Surakum NRFC Savings Account?

• 1% higher interest than the interest rate payable on NRFC Savings Accounts
• Gain on foreign exchange appreciation
• Tax-free interest in foreign currency
• Free Millennium Shield Insurance Cover (terms and conditions apply)
• HNB World draw eligibility (provided a balance of USD 500/- is maintained). Click here for more details

How can I open a Singithi Surakum NRFC Savings Account?

• Click here to download the Minor NRFC Account Opening Form
• Print the form, complete the details and sign both sections. Please mention Customer Centre of preference

What deposits can be used to open a Singithi Surakum NRFC Account?

• The account can be opened with inward remittances in convertible foreign currency from parent(s) or guardian(s) employed abroad
• Deposits of currency notes by parent(s), guardian(s) or immediate family members (spouse/parent/sibling/child)
• Interest payable in foreign currency on funds held in the account
  

What are the restrictions?

• The account holding minor will not be permitted to make withdrawals from the account until the age of 18 years except for necessities of the minor. On reaching 18 years of age, the beneficiary will be required to complete and submit a new savings account form to the bank, when the account will be converted to a Resident Foreign Currency Savings Account, under a new number

All Singithi Surakum Savings Accounts with a minimum balance of USD 500/- are eligible for the HNB World Draw scheme. To learn more about HNB World, click here.