Deposits

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.

Fees and charges

Service and transaction fees apply on Foreign Currency Accounts.