BOC Smart Salary Saver

• Be a Permanent Employees of Government, Semi-Government and Private Sector
• Probationary/ Trainee employee of Government/ semi-government/ private sector recruited for permanent carder
• Should be a member of EPF Fund or Pension Scheme 
• Be a Qualified Professional

• Daily investment of additional funds
  The excess funds retaining a balance of Rs.10,000/- in BOC Smart Salary Saver account are invested in a special Fund Management Account on daily basis with a return
• Easy access for invested funds for day-to-day payments
  When the account holder/s withdraw funds / make any payments from the BOC Smart Salary Saver account, the deficit amount if any will be automatically funded from the Fund Management Account, up to the amount available in this account.
• Instant Salary Advance
  A salary advance up to 90% of your take-home salary is available for BOC Smart Salary Saver account holders, if the required criteria are met. Your salary should be remitted to BOC Smart Salary Saver Account for more than 3 months to enjoy this facility.
• Leasing/Personal Loans at reduced interest rate (0.5% concession)
• E-Commerce enabled Debit Card
• Smart Online Banking, B-App, SmartPay and other digital banking services
• Smart Passbook, e-statements and SMS alerts  to view account details (Mobile Number is required for SMS alerts and e-mail address is required for e-statements)
• Other Benefits 
• The accounts can be opened with an initial deposit of Rs. 2,000/-.
• No monthly service charges
• No minimum balance requirement to be maintained in accounts

Terms and Conditions

1. You are required to continuously remit monthly salaries/earnings to BOC Smart Salary Saver Account
2. Accounts which do not record customer originated debit / credit transactions for a period of 365days or more are considered as Dormant Savings Accounts.
3. Facilities are provided subject to fulfillment of terms and conditions imposed by the Bank
4. Bank of Ceylon holds the right to change, add or revise any conditions and facilities offered for this account.
5. It is advisable to contact your nearest BOC branch or our Call Centre on 1975 for latest information and prevailing terms and conditions

Documents required to open a Smart Salary Saver Account

• BOC Smart Salary Saver Account Opening Application (Bank Form)
• Documentary evidence to confirm the employment status (Employee Identity Card, Employment Contract, a letter issued by the employer etc.)
• National Identity Card

Qualified Professional’s Requirement

• Letter /Membership Card issued by a Professional Institution
• Documents to prove the source of income and average monthly income

Salary Advance Facility Requirement

• Salary Advance Application (Bank Form) 
• Salary Advance Agreement (Bank Form) 

*Conditions apply

TERMS AND CONDITIONS RELEVANT TO SMART SALARY SAVER ACCOUNT 

1. BOC Smart Salary Saver Account can be opened as an individual account or a joint account upon fulfillment of eligibility criteria defined by the Bank. 
2. Initial deposit, Rate of interest, Service Charges and other levies are as per the Bank’s prevailing rules, which may change from time to time and are published on www.boc.lk Bank’s official website.
3. In order to entertain the special benefits of the account (e.g.: Salary Advance, Fund Investments), the account holder/s shall fulfill the required criteria decided by the Bank from time to time such as the continuous salary remittance/deposits with defined amounts, age limit, no default records etc. 
4. The Bank shall have the right to amend, cancel or discontinue the benefits, privileges and facilities associated with BOC Smart Salary Saver Account or the eligibility criteria to be satisfied for the grant of such benefits and shall be subject to Bank’s policies and procedures and such amendment shall be applicable for new accounts opened under this scheme. 
5. Interest shall not be paid for the balance in BOC Smart Salary Saver Account.
6. Cheque books are not issued for this account. 
7. Account holder/s shall make arrangements to remit the monthly salary/earnings to this account.
8.  It is required to continuously remit monthly   salaries/earnings to BOC Smart Salary Saver Account
9. If the account holder/s fail/s to remit monthly salary/earnings in to the BOC Smart Salary Saver Account on regular basis, the Bank may discontinue the BOC Smart Salary Saver Account and the special features/benefits attached to the account.
10.  Monthly e-statements are emailed to the given e-mail address. Printed statements if required can be obtained from the Bank. Charges under domestic tariff are applicable for additional copies of printed statements requested from the Bank. 
11. In the event of the account holder’s demise, the balance in the account will be paid to the legal heirs of the account holder in accordance with the laws of Sri Lanka. In case of joint accounts, the surviving account holder is paid the balance in the account. 

RELEVANT TO FUND MANAGEMENT ACCOUNT 

1. Fund Management Account is opened only for BOC Smart Salary Saver Account holders, operated solely for the investment of additional funds in BOC Smart Salary Saver Account and no any other customer initiated transactions are allowed such as Direct Deposits, withdrawal or standing instructions. 
2. The interest rate is in accordance with the current rules and regulations of the Bank, which is subject to change from time to time as decided by the Bank and are published on www.boc.lk Bank’s official website.
3. Ownership of Fund Management Account (Individual/Joint) shall be the same as BOC Smart Salary Saver Account. 
4. Passbooks/ Debit cards are not issued for this account. Account details and transactions can be viewed through e-statements and other digital modes provided by the Bank. 
5. Available balance in the Fund Management Account shall be automatically transferred to the BOC Smart Salary Saver account to meet any insufficient funds in BOC Smart Salary Saver account.
6.  In the event of the account holder’s demise, the balance in the account will be paid to the nominee/legal heirs of the account holder in accordance with the laws of Sri Lanka. In case of joint accounts, the surviving account holder is paid the balance in the account

It is advisable to contact your nearest BOC branch or our Call Centre on 1975 for latest information and prior to account opening and for terms and conditions

Key Fact Document