Place a deposit for a short period of time at a higher interest rate.
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The Government of Sri Lanka in consultation with the Monetary Board of the Central Bank of Sri Lanka (CBSL) has introduced a Special Deposit Account (SDA).
Sri Lankan individuals resident in or outside Sri Lanka
Citizens of other States with Sri Lankan origin
Non- nationals resident in or outside Sri Lanka
Funds, corporate bodies, associations incorporated/registered outside Sri Lanka
Six (06) months
Fixed deposits only
6 months deposits - Additional 1% p.a on the interest rate published by the Bank
12 months deposits - Additional 2% p.a on the interest rate published by the Bank
The SDA could be opened In Sri Lankan Rupees or designated foreign currencies; USD, EUR, GBP, AUD, SGD, SEK, CHF, CAD, HKD, JPY DKK, NOK, RMB, NZD
Inward remittances in foreign currency received from outside Sri Lanka in favor of the account holder through the banking system.
Transfers from Inward Investment Accounts (IIA) or accounts maintained in the Offshore Banking Unit by the account holder, out of the proceeds received as inward remittances during the six months period from the date of the regulations in favor of the account holder.
Outward remittances of maturity proceeds upon maturity of the term deposit.
Transfer of maturity proceeds of Special Deposit Accounts term deposits to an Inward Investment Account or an account maintained in the Offshore Banking Unit by the same account holder.
Disbursements in Sri Lanka in Sri Lankan Rupees.
Residents in Sri Lanka:
Special Deposit Accounts shall be opened and maintained only in the form of Fixed Deposits. SDAs in the form of savings accounts may be opened as operational accounts only for the purpose of receiving funds to be placed in SDAs. SDA Interim Savings Account could not be used for any transactions other than routing SDA funds.
Special Deposit Accounts shall be opened and maintained either in any designated foreign currency or in Sri Lankan Rupees.
Special Deposit Accounts may be held as joint accounts by eligible persons.
For further details please contact our Travel & NRFC Department on + 94 11 2330408 ,+94 11 2486075/85 or your nearest Commercial Bank branch. Email :- email@example.com
Product information and terms & conditions are subject to change from time to time. Therefore, it is advisable to contact the branch nearest to you for the latest information and prevailing terms & conditions.
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