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Smart Salary Account
A Bouquet of Special Privileges

An interest-bearing current account (CA) with features of Fixed deposit (FD)

As and when balance in account exceeds LKR 51,000, excess amount in multiple of LKR 10,000/- [Minimum LKR 50,000/-] will be transferred to FD account in order to fetch higher rate of interest. However, liquidity will be maintained thorough reverse sweep by partial break up of Fixed Deposit in multiples of LKR 10,000/- in case balance in current account goes below minimum balance requirement due to payments, etc. Last in first out principle shall be used for reverse sweeps.

Please contact any of our branches for further details.

Eligibility

Salaried Permanent Employees of Govt. departments, Institutions and Corporates with gross monthly salary of LKR 40,000/- and above (Minimum 20 accounts from one organization).



Interest Rates
  • Card Rates on Savings Account for balances in current account
  • Card Rates on Fixed Deposits


Minimum Balance Required
  • LKR 1,000/-
  • A monthly charge of LKR 100/- shall be recovered for non-maintenance of minimum balance.


Cheque Book
  • A Cheque Book of 25 cheque leaves will be issued at one instance.

Tenure of Fixed deposits

As per choice of the Corporate-3M/6M/12M
In case of payment requirement over the counter/clearing if Current Account needs fund from FDs, concept of Last in First Out (LIFO) will be applied. As such, partial breaking of FD in multiple of LKR 10,000/- by an amount adequate for payment, leaving aside the minimum prescribed balance of LKR 1,000 /-as mentioned in the above para, in the CA component. In other words, balance in the CA will not be allowed to go below the minimum prescribed balance, i.e. LKR 1,000/- unless the balance available under FD component is fully exhausted.
On partial breaking, interest will be applied at the applicable rate for the period such amount has been with the bank. No interest shall be paid, if such amount has remained for less than 3 months with the bank.

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