We Are here to Help

Frequently Asked Questions:

1. What are the documents need to open a fixed deposit?

National Identity card or in the absence of it a valid driving license or valid passport containing the national identity card number. If the address differs from the given document a billing proof not less than 3 months should be submitted.

2. What is the Minimum time period of Seylan Fixed Deposit?

Starting from 30 days. Call as Millennium 30

3. How can you earn interest for the 30 Day Fixed Deposit?

At maturity.

4. What is the minimum amount required to open a 30 day Fixed Deposit?

Rs 100,000/-

5. How can you earn interest for 3 months and 6 months Fixed Deposit?

At maturity.

6. Can minors open fixed deposits?

Yes. Jointly with an adult (+18 Years).

7. Is it possible to uplift a fixed deposit placed jointly with a minor at any time?

No. Deposit could be withdrawn only after minor attend majority (18 Years).

8. Can I uplift the fixed deposit before maturity?

Yes. Deposit could be uplifted before maturity.

9. If I uplift the deposit before maturity, will I get the agreed interest rate?

No. Rate will be decided by the bank.

10. What are the facilities I could obtain from a fixed deposit?

a. Instant Credit Card – 90% of the deposit value as an under-lien

b. Cash Back Loan - 90% of the deposit value as an under-lien

11. If the fixed deposit is matured, will you deposit the proceeds to my account?

No. You need to hand over the original certificate to the branch.

12. If the interest rate reduced/ increase after me placing the fixed deposit, is it applicable for my deposit?

No. Once the deposit is placed, agreed interest will not change.

13. What is the difference between a Savings Account and a Fixed Deposit?

At the time of placing the Fixed Deposit, amount, time period and interest rate will be agreed and it will not be changed until maturity. For a savings account you can deposit at any time and can withdraw at any time. If there is an interest change it will be applicable for the deposit.

14. What is the minimum age limit to open a Seylan Fixed Deposit?

18 Years and above.

15. What is the minimum amount required to open a Seylan Shakthi/ Seylan 5 Star Fixed Deposit?

Rs 100,000/-

16. How can you earn interest for Seylan Shakthi/ Seylan 5 Star Fixed Deposit?

Monthly, annually or at maturity

17. What is the added benefit when you invest with Seylan Shakthi/ Seylan 5 Star Fixed Deposit?

In addition to interest earned, 0.1% of the deposit value per month will be awarded in the form of a utility voucher, for the 1st year.

18. What is the minimum value of a utility voucher?

Rs 100/-

19. If I pre-mature uplift the Seylan Shakthi/ Seylan 5 Star Fixed Deposit, do I have to pay for the value of utility vouchers?

If you have utilized the vouchers, value will be recovered. If not you have to hand over the 12 vouchers issued by the bank.

20. What will happen if I prematurely withdraw the Foreign Currency Fixed Deposit?

Interest will be paid to the customer according to the time period the deposit was held.

21. Can I obtain a loan against the Foreign Currency fixed deposit?

A facility can be entertained up to 90% of the deposit value

22. Can I withdraw the money of the fixed deposit in Foreign Currency?

Funds can be transferred by way of a foreign draft or via telegraphic transfer.

23. Should I inform in advance that am withdrawing the Foreign Currency Fixed Deposit?

Currency can be withdrawn only for travel purposes; in such case the relevant branch will make the necessary arrangements.

24. If a person resident outside Sri Lanka remits foreign currency to a person resident in Sri Lanka, can the recipient open a Personal Foreign Currency Account (PFCA) with such funds ?

Yes. A PFCA can be opened by any type of inward remittance received through the banking channels.

25. Can the holders of Personal Foreign Currency Accounts withdraw foreign currency notes ?

Yes. for travel purposes subject to a maximum of USD 10,000 or its equivalent in another foreign currency.