HNB offers higher returns for foreign currencies with FC Advantage

HNB PLC, in a bid to encourage foreign currency account holders to save in designated currencies, is offering Foreign Currency Advantage (FC Advantage) savings account holders with higher returns.

Offering interest rates as high as 4.58 percent per annum for USD, FC Advantage can be operated in four designated currencies: US Dollars, Australian Dollars, Euros and Sterling Pound. As the accounts are not restricted to Sri Lankan residents, foreign nationals and expatriates are invited to open a Foreign Currency Advantage account with HNB, the bank said in a media release.

“The pandemic had a dramatic effect in the flow of foreign currency as many sent funds home to their loved ones while securing their savings in foreign currency accounts. The FC Advantage savings account is excellent for those who wish to be incentivized for their efforts while having the flexibility to withdraw funds as and when needed. As such, we are delighted to provide our savings account holders with this unique opportunity,” HNB Head of Deposits Viranga Gamage said.

Customers who wish to open an FC Advantage need only deposit 5,000 units of a designated currency. As this foreign currency account functions fundamentally as a savings account, account holders have no limitations on withdrawals or deposits. Moreover, interest is calculated daily and credited to the account at the end of each month, incentivizing the account balance maintained each day, the release said.