Foreign Currency Term Deposit (FCTD)
Features
- No establishment fees
- Minimum terms vary for business entities and individuals
- Opening minimum deposits may vary
- Competitive interest rates. Conditions apply.
- Option to re-invest with principal or paid to a nominated account on maturity
- Early redemption is not allowed
Benefits
- Individuals and business can hold deposits in multiple currencies
- Periodically take advantage of favourable exchange rate movements
- Deposit held at fixed rates and terms
- Maximise interest on surplus funds
- Accumulate funds to pay for travel, educational or other Offshore expenses or investments (subject to Bank of PNG Regulations)
- Foreign currency can be held in anticipation of favourable exchange rates
- Can be used as security against loan transactions
How to apply
- At your nearest BSP branch or through your Relationship Manager.
- A Kina Account must be held.
- BSP's identification and document requirements apply to individuals and business entities, with a minimum opening deposit.
Requests for Foreign Currency Accounts require BPNG approval. Refer to following documents for more information:
Fees and charges
Service and transaction fees apply on Foreign Currency Accounts.
