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Foreign Currency Fixed Deposit
Foreign Currency Fixed Deposit
Features
There are many reasons why you would need to your foreign currency earnings for a Fixed Term. These could be for an Investment opportunity, international business venture, to pay for your child’s education overseas or to earn a regular income for expenses. Seylan Foreign Currency Fixed Deposit is the perfect answer that provides better returns to your Foreign Currency.
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Attractive interest rates
Competitive and attractive interest rates
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Various Tenors Available
You can open a foreign Currency Fixed Deposit for tenors of 1,3,6,12 Months
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Greater Flexibility
Maintain or remit funds on a selected currency or convert at a favorable with us.
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Automatic Renewals
Upon maturity, your deposit is automatically renewed for the same tenor at the prevailing interest rate
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Wide range of benefits
NRFC / RFC account holders are entitled for the Thilina Sayura benefit scheme and SFIDA personal account holders only for Thilina Sayura.
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Range of Currencies
you can choose from 8 designated foreign currencies; USD, GBP, EUR, AUD, JPY, CHF, SGD, CAD
How to get started
- Eligibility
- Individuals and institutions earning foreign currency
- Corporate bodies incorporated outside Sri Lanka
- Foreign institutional investors, mutual funds
- Minimum Deposit Values:
| Currency | Domestic Units | FCBU |
|---|---|---|
| U.S. Dollar (USD) | 500 | 10,000/- |
| Sterling Pounds (GBP) | 500 | Equivalent of USD 10,000/- |
| Euro ( EUR) | 500 | Equivalent of USD 10,000/- |
| Australian Dollar (AUD) | 500 | Equivalent of USD 10,000/- |
| Japanese Yen (JPY) | 50,000 | Equivalent of USD 10,000/- |
| Swiss Franc (CHF) | 500 | Equivalent of USD 10,000/- |
| Singapore Dollar (SGD) | 500 | Equivalent of USD 10,000/- |
| Canadian Dollar (CAD) | 500 | Equivalent of USD 10,000/- |
- Documents Required
- National Identity Card
- Valid Passport or Valid Driving license which carries the national identity card number
- If the address differs from the given document a billing proof not less than 3 months should be submitted.
- Any document required from the bank for KYC purpose
- Corporate bodies:
- Company Registration
- Board Resolution
- Valid Identification of Board of Directors
Interest Rates Fees
Fixed deposit rates
| Currency | Code | Minimum Amount | Interest Rate % p.a | |||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 1 month | AER % | 3 months | AER% | 6 months | AER% | 1 year | AER % | 1 Year (Monthly) | AER % | |||
| US Dollar | USD | 500 | 2.500 | 2.5288 |
3.00 | 2.7785 |
3.50 | 3.2764 |
3.75 | 3.5000 |
3.50 | 3.0416 |
| Sterling Pound | GBP | 500 | 1.750 | 2.0184 |
2.25 | 2.2691 |
2.50 | 2.5156 |
3.00 | 2.7500 |
2.50 | 2.2733 |
| Euro | EUR | 500 | 1.750 |
1.7641 |
2.00 | 2.015 |
2.25 | 2.0100 |
2.50 | 2.2500 |
2.25 | 2.0184 |
| Australian Dollar | AUD | 500 | 3.000 | 3.2989 |
3.25 | 3.5462 |
3.50 | 3.7852 |
4.00 | 4.0000 |
3.50 | 3.2989 |
| Japanese Yen | JPY | 50,000 | 1.000 | 1.0046 | 1.25 | 1.2559 | 1.50 | 1.5056 | 1.75 | 1.7500 | 1.50 | 1.5104 |
| Swiss Franc | CHF | 500 | 0.500 | 0.7526 | 0.75 | 0.7521 | 1.00 | 1.0025 | 1.00 | 1.0000 | 0.75 | 0.7526 |
| Singapore Dollar | SGD | 500 | 0.750 | 0.7526 | 1.00 | 1.0038 | 1.25 | 1.2539 | 1.50 | 1.5000 | 1.25 | 1.2572 |
| Canadian Dollar | CAD | 500 | 2.000 | 1.7641 |
2.25 | 2.015 |
2.25 | 2.000 |
2.50 | 2.2500 |
2.25 | 2.0184 |
| Norwegian Kroner | NOK | 5000 | 1.750 | 2.00 | 2.25 | 2.50 | 2.25 | |||||
Long Term USD fixed deposit rates
| 01Y(%) | 02Y(%) | 03Y(%) | 04Y(%) | 05Y(%) | 05Y(%) (above USD 25,000/-) | |
|---|---|---|---|---|---|---|
| Monthly | 3.5000 | 3.5000 | 3.7500 | 4.0000 | 4.2500 | 4.2500 |
| AER | ||||||
| Annually | - | - | - | - | - | 5.0000 |
| AER | ||||||
| Maturity | 3.7500 | 4.0000 | 4.2500 | 4.5000 | 4.7500 | 6.0000 |
| AER |
Use these tools Calculators to see how you can save
From where can I place a fixed Deposit?
A foreign currency f/d can be placed at any Seylan bank branch, with in working hours.
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.
Can I obtain a loan against the Foreign Currency FD?
A facility can be entertained up to 90% of the deposit value
Can I withdraw the money of the deposit in Foreign Currency?
Funds can be transferred by way of a foreign draft or via telegraphic transfer.
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.
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