Whether you are retiring or leaving your employment to pursue better career opportunities, your terminal benefits including EPF, ETF, and gratuity - represent an important financial resource.
Without leaving these funds idle, invest them to earn attractive returns and build a stronger financial foundation for your future needs.
Eligibility
Retired employees and/or early retirees with entitlement to EPF, ETF and/or Gratuity.
Minimum Deposit
LKR 2.5 Million from terminal benefits.
Benefits
| Benefit | Terminal Benefit (EPF, ETF & Gratuity) | |
|---|---|---|
| Between LKP 2.5 Mn - 5Mn | Above LKR 5Mn | |
| Preferential rate above the rate Advice for one deposit (one year or above) | 1.00% p.a. | 1.50% p.a. |
| Cash voucher - one time | LKR 3,000/- | LKR 7,000/- |
Applicable Conditions
- The source of funds must be established as EPF, ETF and/or Gratuity at the time of placing the fixed deposit, with documentary evidence.
- Relevant supporting documents should be submitted to the branch.
- The fixed deposit to be placed within 30 working days of receiving the retirement/terminal benefits by the beneficiary (customer).
- Only the direct beneficiary of the terminal benefits is permitted to place the Fixed Deposit (FD) under this scheme.
- The minimum tenure of the Fixed Deposit is 1 year. Interest may be earned at maturity or monthly.
- It is compulsory to open a Savings Account, if one is not already available, at the time of placing the Fixed Deposit to credit the value of the cash voucher.
- Each customer is entitled to only one cash voucher under this scheme.
- Customers under this scheme will be covered only for one deposit. Upon maturity of the deposit, the customer will revert to the prevailing interest rates of the bank.
- All other Fixed Deposits placed by the customer, apart from the one Fixed Deposit placed under the preferential rate scheme for terminal benefits, will carry the standard applicable rates.
Required Documentation
- NIC
- Completed Fixed Deposit opening mandate
- Documentary evidence confirming the source of funds from EPF, ETF and/or Gratuity.
- Any additional documentation required by the Bank to establish the source of terminal benefits.
