Special Deposit Accounts - Pan Asia Banking Corporation

Enjoy special benefits, including the ease of remitting proceeds outside of Sri Lanka upon maturity, with a fixed deposit opened in foreign currency or Sri Lankan rupees

Open a fixed deposit with either foreign currency or Sri Lankan rupees and enjoy many unique benefits, including the option of remittance of proceeds outside of Sri Lanka upon maturity with ease.

Key features & benefits

Higher Interest rate than regular fixed deposits.
Freely convertible and remittable outside Sri Lanka at maturity.
The details of this product are in accordance with regulations published by the Central Bank of Sri Lanka. Thus, the details may change from time to time according to changes in regulations.

Rates & fees

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Receive a number of benefits such as remittance of proceeds outside of Sri Lanka with ease.

Call us today to learn what a Special Deposit Account can do for you!

Special Deposit Accounts FAQs

How can I open a Special Deposits Account?
Please call us or visit your nearest branch to apply for a Special Deposits Account.
What is the minimum deposit amount for Special Deposits Account?
Minimum deposit of USD 1,000 or its equivalent
Who is eligible to open a Special Deposit Account?
● 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, and associations incorporated/registered outside Sri Lanka
What are the permitted credits as per Central Bank regulations?
● Foreign currency inward remittances received in favour of the account holder as an eligible inward remittance.
● Transfer from an IIA account of the account holder out of the proceeds received as an eligible inward remittance.
● Transfer of foreign currency from an account maintained in an Offshore Banking unit by the account holder during 8th April 2020 – 8th October 2020
What are the permitted debits as per Central Bank regulations?
● Foreign currency outward remittance of maturity proceeds sent in favour of the account holder.
● Transfer of maturity proceeds to an IIA account of the account holder.
● Transfer of maturity proceeds to an account maintained in an Offshore Banking unit by the account holder
● Disbursement of maturity proceeds in Sri Lanka will be in Sri Lankan Rupees
Note: All transactions shall be in accordance with Central Bank of Sri Lanka direction no. 04 of 2020 under Foreign Exchange Act no. 12 of 2017