Special Foreign Investment Deposit Account (SFIDA)
If you are a Citizen of a foreign state or a Non-Resident Sri Lankan domiciled overseas or employed abroad and looking for a good place to invest your money in, don't look further than ICICI Bank's Special Foreign Investment Deposit Accounts (SIFDA). Not only do we offer attractive returns on them, you have a basket of currencies to choose from. The ability to re-convert and repatriate the capital and the interest makes SFIDA one among the most lucrative deposit schemes in the region. What's more, you have the option of choosing tenures from as short as one month to as long as five years.
ICICI Bank's Special Foreign Investment Deposit Accounts (SIFDA) provides a range of benefits and when it comes to making the right choice for your investment, ICICI Bank's vast global presence and stability together with the attractive returns is hard to match.
- Great Returns
Maximum returns on your deposits
- Choice of Currencies
You can place your deposit in Sri Lankan Rupees (LKR), US Dollars (USD), British Pound Sterling (GBP) or Euro
- Range of Tenures:
You can open deposits in LKR for tenures that range from one month to five years and in other currencies for tenures that range from one to twelve months.
- Fully Repatriable:
Maturity Proceeds are fully repatriable.
- Forward Cover:
You can make a forward exchange booking to cover your exchange risk at maturity.
- Low Entry Point:
Minimum investment is USD 10,000 or equivalent in any other designated currency.
- Tax Free returns:
Your investment exempted from Government Taxes such as Income Tax, Withholding Tax and Debit Tax
- Internet Banking
View your transactions online with more convenience.
- Eligible Investors
Citizens of Foreign States
Non-Resident Sri Lankan domiciled overseas or employed abroad
Corporate bodies incorporated outside Sri Lanka
Foreign Institutional Investors such as country funds, mutual funds and regional funds.
- Account types
- Savings Accounts
- Fixed deposits
- Permitted Credits
- Proceeds of inward remittances received from abroad through the banking system for the purpose of investment in such deposits
- Foreign currency in the form of travellers' cheques, bank drafts or currency notes brought into the country by the account holder on declaration to Sri Lanka Customs as applicable during his temporary visits to Sri Lanka these should be tendered in person to the Authorized Dealer, provided that the travellers' cheques have been issued outside Sri Lanka and the bank drafts endorsed in the name of the account holder
- Interest accruing on the funds held in the account
- Permitted Debits
- Outward remittances
- Transfers to other SFIDA Accounts
- Withdrawals in Sri Lanka Rupees