Welcome interest from PB Ethera Isura

State banking giant and winner of the 'Banking and Financial Services Brand of the Year' award, at People's Awards - 2007, People's Bank has introduced a new foreign currency fixed deposit - the 'Ethera Isura Super Deposit'.

Continuing the Bank's commitment to national development, through the declaration of the 'Saving's Year - 2007', this scheme is one of a long line of programmes introduced by People's Bank to instill and encourage the value of savings. It has been developed with foreign exchange earners in mind, encouraging them to remit their earnings to Sri Lanka through this deposit scheme.

The most salient feature of the 'Ethera Isura Super Deposit' is the floating interest rate that lets depositors grab the best rates in the market, depending on market fluctuations. The interest rate is revised once in three months, in keeping with the LIBOR (London Inter Bank Offer of Rate).

The official launch of the 'Ethera Isura Super Deposit' account was held at the Overseas Customer Services recently, with the participation of Chief Executive Officer/General Manager Asoka de Silva, SDGM, Treasury and International Business N. Vasanthakumar, Assistant General Manager, Overseas Customer Services W.D. Dayananda and the staff of Overseas Customer Services.

To open an 'Ethera Isura Super Deposit', a depositor needs a minimum deposit of USD25,000 that has to be maintained in the account for a period of two years. A deposit of up to USD74,999 will receive a three-month LIBOR + 0.25%, while a deposit of over USD75,000 will receive a LIBOR + 0.5%.

The interest will be transferred to a foreign currency savings account or a LKR account, and the interest rate will be revised automatically, every three months as mentioned above. The deposit can be accepted as a Non-Resident Foreign Currency (NRFC) deposit or a Resident Foreign Currency (RFC) deposit, depending on the eligibility of the depositor.

The 'Ethera Isura Super Deposit' scheme, aimed at the interest rate-sensitive foreign exchange earners, is the ideal opportunity for them to make the best of changing market conditions, while making an investment for their future.