What is Fixed Deposit and How it works in srilanka

What is Fixed Deposit and How it works in srilanka


Fixed Deposit is which we can not withdraw anytime. Its a Fixed Amount for fixed period. Some banks in Australia and United states provide Flexible Fixed deposits

Flexible Fixed deposit means that you can put money at anytime during the period but the rate is quite low compare to normal Fixed deposits.

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As an Example

If you have 100,000 Rs and need to FD. 

There are options that 

3 months , 6 months 12 months options. If you select 3 month Fixed deposit you should have to wait unitil 3 month to withdraw your funds.

Always Fixed deposit rates are higher than the Savings rates.


Currently Fixed deposit rates are very lower in srilanka. Due to Central bank Regulations all the Fd rates and Loans rates reduced.

This action Has taken due to provide and pump loan to SME Sector in srilanka.

If you take funds before the withdraw you will face a big penalty.