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. Refer to following documents for more information:

 

Fees and charges

Service and transaction fees apply on Foreign Currency Accounts.