The Bank of Ceylon has launched ‘Prestige Plus’, a revolutionary current account specifically for demanding professionals and executives. The new account comes with a range of features and benefits. The account can be opened by professionals, such as doctors, engineers, lecturers, ac-countants, architects, consultants and lawyers who are operating on their own or in the em-ployment of an institution. Also, executives employed in the private or government sector, drawing a minimum monthly gross salary of Rs 40,000 are also eligible to open a Prestige Plus account. It is also possible to open a joint account provided that one of the account holders satisfies the basic eligibility criteria described above. Spouses, parents and children over 18 may join in as a joint account holder. A BOC Prestige Plus account can be opened in any BOC branch island-wide, with all their branches linked via an online network. The practice of calling for an introducer of the applicant is still a legal requirement but now flexibility has been added to the procedure. A BOC current account holder, an employer, or head of department could act as the introducer as part of BOC’s new simplified application process The initial deposit required to open an account is Rs 30, 000 and the minumum amount to be maintained in the account is Rs 10, 000. Each Prestige Plus account holder will be issued with a personalised cheque book, Visa electron debit card, and BOC credit card, with no joining fee. The credit card’s initial limit is Rs 100,000 but can be enhanced to match the individual’s requirements. BOC Prestige Plus could become the gateway to meet all credit needs including personal loans and housing loans. SMS and internet banking is also available. The VISA Electron debit card which comes with the Prestige Plus account is offered free, and can also be used to withdraw funds from designated accounts, subject to a daily limit of Rs 100,000. Prestige Plus assists the busy professional in a number of ways. It backs you up with online capability, making any branch your branch. The BOC credit card will allow you to step into the ‘cashless’ society and the VISA credit card will allow you to match your credit needs with ease. SMS and internet facilities will also enable you to transact with your bank from the convenience of your home or office, whether it be to order a new cheque book, or transfer funds from one account to another.
Photo Caption – C Samarasinghe, Deputy General Manager, Product and Development Banking, Bank of Ceylon