Special Deposit Account (SDA)
Benefits & Features
- Higher interest rates
For 6-month deposits – 1% per annum, above the normal rate
For 12-month deposits – 2% per annum, above the normal rate
- Repatriation is freely permitted on maturity
- You can save in a local currency or foreign currency fixed deposit
- 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 Lanka Rupees.
- Sri Lankan individuals resident in or outside Sri Lanka
- Dual Citizens
- 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
- Any other well-wishers
All terms pertaining to the Special Deposit Account set out above are as per prevailing foreign exchange regulations and may be subject to amendment from time to time. These Special Deposit Account Product Terms are to be read together with our Retail Client Terms.
Terms & Conditions apply