Fixed Deposit Rates in Sri Lanka: How to Compare Banks & Finance Companies (Including Senior Citizen Rates)
If you're searching for the best fixed deposit rates in Sri Lanka — whether from licensed banks or finance companies like MBSL, Richard Pieris Finance, CBC Finance, Singer Finance, Vallibel Finance, Central Finance or Commercial Credit — the differences between institutions can be worth tens of thousands of rupees a year on a typical deposit. Here's how to compare them properly.
Banks vs finance companies: what's the difference?
Licensed finance companies typically offer higher FD rates than commercial banks — often 1–3 percentage points more — because they take on more lending risk. Both are regulated by the Central Bank of Sri Lanka, and deposits in licensed institutions are covered by the Sri Lanka Deposit Insurance Scheme up to the insured limit. Always verify an institution is licensed on the CBSL website before depositing.
Senior citizen FD rates
Most banks and finance companies offer an additional rate for depositors over 60, and the government-subsidised senior citizen scheme (where available) can push rates higher still on qualifying deposits. If you or a family member is over 60, always ask specifically for the senior citizen rate — it is rarely the advertised headline rate.
What to check before you deposit
- Effective annual rate — monthly-interest FDs quote a lower rate than maturity FDs; compare the annual effective yield, not the headline number.
- Premature withdrawal terms — breaking an FD early usually drops you to the savings rate; check the penalty before locking in long tenures.
- Institution rating — finance company rates vary with their credit rating — a higher rate often reflects higher risk.
- Renewal terms — auto-renewal may happen at a much lower prevailing rate.
Work out your exact maturity value
Use the free AnyBanq FD maturity calculator at anybanq.lk/tools to see exactly what any rate and tenure combination pays at maturity, and compare fixed deposit products from banks across Sri Lanka on our investment pages. Rates change frequently — always confirm the current rate with the institution before depositing.