Special Deposit Account (SDA)

Special Deposit Account
Key Features
  • SDAs shall only be opened as Fixed Deposits.
  • SDA Savings Account can be opened only for the purpose of receiving funds to be placed in SDA Fixed Deposit.
  • Joint accounts are permitted with another eligible person.
  • Freely convertible and remittable outside Sri Lanka at maturity.
  • SDAs will not be subject to Foreign Exchange Regulation Act No. 1 of 2017 published in Gazette Notification No. 2045/56 dated 17.11.2017.
Eligibility
  • Any Sri Lankan resident in or outside Sri Lanka above 18 years of age
  • Dual citizens
  • Citizen of other States with Sri Lankan origin
  • Non-national resident in or outside Sri Lanka
  • Funds, corporate bodies, associations incorporated/registered outside Sri Lanka
  • Any other well-wishers
Tenure
  • Higher interest rates than the normal Fixed Deposits
  • 6 months tenure – 1% above the normal interest rate per annum
  • 12 months tenure – 2% above the deposit interest rate per annum
What You'll Need
  • A National Identity Card (NIC)
  • A billing proof for your residential address verification (electricity bill, water bill, or landline)
Designated foreign currencies
  • United States Dollar (USD)
  • Euro
  • Sterling Pound
  • Australian Dollar
  • Singapore Dollar
  • Swedish Krona
  • Swiss Franc
  • Canadian Dollar
  • Hong Kong Dollar
  • Japanese Yen
  • Danish Krone
  • Norwegian Krone
  • Chinese Yuan
  • New Zealand Dollar