Sampath FC Prime offers 33% bonus interest for foreign currency savings

Continuing to help individuals and businesses earn greater returns on their foreign currency savings, Sampath Bank is offering an additional bonus interest of 33% on its Sampath FC Prime accounts. With the account already offering an attractive base interest rate of 3% p.a., accountholders will be able to earn an effective rate (AER) of 4.05% p.a.

This rate of return is considerably higher than the average market interest rates for foreign currency savings accounts. It is comparable to the interest rates being offered on foreign currency fixed deposits which, in today’s market, are not far from the rates on local currency fixed deposits. Sampath FC Prime accountholders will also be able to reap additional returns from any appreciation in the currency as the funds are held in US dollars.

Furthermore, Sampath FC Prime offers accountholders the convenience of being able to withdraw their funds as and when needed, without being impeded by extended lock-in periods and withdrawal penalties.

Delivering higher returns and greater flexibility, Sampath FC Prime thus serves as an ideal short to medium term investment proposition for both individuals and businesses with foreign currency earnings and savings. This is part of Sampath Bank’s efforts to support the national drive to attract more foreign exchange remittances into the country and help strengthen the economy during these trying times.

“In today’s turbulent market conditions, individuals and businesses are faced with very few stable investment options that offer guaranteed returns, especially for their short to medium term foreign currency investments. In light of this, we are delighted to offer them a secure savings solution that provides both higher returns as well as greater flexibility. We invite individuals and businesses to avail themselves of Sampath FC Prime’s attractive base interest rate as well as the additional bonus interest and grow their US Dollar earnings and savings with Sampath Bank,” said Halin Hettigoda, Head of Deposit Mobilization, Sampath Bank PLC.