Commercial Bank offers fixed deposits for 1 Month to 60 Month Period with an interest rate start from 8.5% to 12.50% per annum.
Fixed Deposits is one of the best investment method if you unable to spend time on business operation or not willing to take a risk of CSE. And many banks and financial institutions offer better fixed deposits interest rate depend on their profile and the money needs of their operations.
Always in Sri Lanka Finance Institutions is offer higher interest rate for fixed deposits than Commercial banks, where the attention towards to finance company is less in public compare to Banks especially in Sri Lanka, so finance institutions offer higher interest rate to accommodate their lending service. Again it is public responsibility to select the correct Finance institution or banks to deposits their money and safe guard their deposits.
As I started banking with commercial bank, I am still do maintain my banking services with commercial, but many of the people doesn’t know commercial bank offers Higher interest rate for Online Banking Fixed deposits than the fixed deposits open in Branches. May be its t encourage people to use more online banking, but it is advisable to use the online banking and maximise your returns.
For more details Click here to See the Normal Fixed Deposits interest Rate and check with Bank for Online Banking Fixed Deposits rate.