Amana Bank introduces Special Deposit Accounts

Business

Amana Bank recently introduced an inward remittance based Special Deposit Account in line with the direction of the Government and the guidelines of Central Bank aimed at attracting foreign currency deposits.

The Special Deposit Account is introduced to all Sri Lankans living in or outside the country, dual citizens, citizens of any other state with Sri Lankan origin, non-national residents in or outside Sri Lanka, corporate bodies, funds, associations incorporated/ registered outside of Sri Lanka and well-wishers to remit their foreign currency earnings, savings and investments thereby investing towards the prosperity and development of the country. The Special Deposit Account can be opened in either Sri Lanka Rupees or any designated major currency, the bank said in a media release.

The Special Deposit Account which is available in 6 months and 12 months tenures offers a higher profit sharing ratio in line with the government’s direction. In May 2020, the bank paid a profit of 9.15% p.a. and 6.97% p.a. (AER 7.09%) for LKR 1 year and 6 months maturity accounts respectively while paying out a profit of 5.75% p.a. and 4.10% p.a. (AER 4.14%) for USD 1 year and 6 months maturity accounts.

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