Highlights

• You can save for your children in foreign currency with attractive interest rates.
• Account can be opened with US Dollars, Sterling Pounds, Australian Dollars and Euros.
• A higher interest rate will be offered than the rate offered for Personal Foreign Currency Accounts.

Eligibility

Parents, grandparents or legal guardian of children up to 15 years of age (including new borns) are eligible to open an account.

If your child belongs to following categories, you are eligible to open an Arunalu Children’s Savings Account in Foreign Currency for them.

• Minors who are Sri Lankan Citizens, resident in Sri Lanka.
• Minors of Sri Lankan origin, who are resident outside Sri Lanka.
  - Children of Sri Lankan emigrants, whose birth is registered in Sri Lanka.

Interest rates

Interest will be calculated on the daily balance and credited to the account quarterly.

Deposits

From parents ,grandparents or legal guardian. 

1. Remittances in Foreign Currency
2. Transfers from Personal Foreign Currency accounts.

Withdrawals

The total balance in the Arunalu Children’s Savings Account in Foreign Currency, can be withdrawn, on or after the 18th birthday of the child. Operations of the account can be carried out in line with the prevailing Foreign Exchange regulations on Personal Foreign Currency Accounts in Sri Lanka.

Make payments for overseas education or healthcare directly in foreign currency.

Documents required

Residents overseas:

1. Account opening mandate.
2. Original birth Certificate of the Child.
3. Know Your Customer (KYC) form.
4. Following pages of your passport duly certified by the embassy/ Consulate office of Sri Lanka in your country or by your banker overseas. 
   - The Personal Data page
   - Visa page
5. Proof of foreign income.
6. Copy of work agreement. (If applicable) 
7. Address verification documents (If the address given to the bank is different from the National Identity Card / Driving License.) More info >>

Residents in Sri Lanka:

1. Account opening mandate.
2. Original birth Certificate of the Child.
3. Know Your Customer (KYC) form.
4. National Identity Card/ Valid Driving License/ Valid Passport that carries the NIC number.
5. Address verification documents. (If the address given to the bank is different from the National Identity Card / Driving License.) More info >>
6. Proof of foreign income.

Opening an account

Minimum initial deposit – USD 50 or equivalent in designated currencies.

You can visit a branch of your choice and discuss your requirement along with the period of deposit with an officer of the branch.

To open an account please collect an Arunalu Foreign Currency Minor’s Savings Account opening form, from your nearest Commercial Bank branch or download it from below. Complete the form and hand it in with the required documents. Remember to take your passport with the VISA copy to confirm your non residency status. This is necessary for us to identify you. 

If you require further details please contact our NRFC Department on +94 112 330 408 ,+94 112 486 075/85 or your nearest Commercial Bank branch. Email: - travel_nrfc@combank.net

Terms & conditions apply

Product information and terms & conditions are subject to change from time to time. Therefore, it is advisable to contact the branch nearest to you for the latest information and prevailing terms & conditions.