Special Foreign Investment Deposit Accounts (SFIDA)

The Special Foreign Investment Deposit Accounts from HSBC is an investment that offers you the potential to earn significantly higher returns on your savings and deposits using a wide array of currencies.
When it comes to making the right choice for your investment, our global strength and stability, together with better returns is hard to match.

Please contact our international banking centre via 'ibcsrilanka@hsbc.com.lk ' for more details with regard to SFIDA.

• Non-Residents and Non-Nationals now have the ability to invest in Sri Lankan Rupee or any other designated foreign currency deposits and get the benefit of high interest rates
• Upon maturity, the investment can be converted back to the currency of origin at the prevailing exchange rate and be repatriated
• Credits to account - Proceeds of inward remittances received from abroad through a recognized banking system or Foreign Currency in the form of travelers' cheques, bank drafts or currency notes brought into the country after declaration to Sri Lanka Customs and transfers from TIERA/SIERA accounts maintained in the Domestic Banking units and the accounts maintained in off-shore units of licensed commercial banks.
• Withdrawals - Outward remittances and transfers to other SFIDAs are allowed. Funds in SFIDAs could be remitted out of Sri Lanka under established guidelines with no restrictions by the Central Bank of Sri Lanka. Transfers to TIERA/SIERA accounts maintained in the Domestic Banking units and the accounts maintained in off-shore units of licensed commercial banks are also allowed.

• Enhanced investment returns with attractive Sri Lankan Rupee / Foreign currency deposit rates (Indicative rates mentioned below)
• SFIDA exempt from Government taxes (Income Tax, Withholding Tax and Debit Tax)
• Transfers between SFIDAs are permitted under same customer name
• At maturity, your investment can be converted to any of the designated currencies of your choice (mentioned below), at the prevailing exchange rate
• Keep track of your accounts by using Personal Internet Banking from HSBC

Given below are the interest rates for SFIDA accounts.