About NSB Fixed Deposits
The National Savings Bank (NSB) is a state-owned savings bank established under the National Savings Bank Act No. 30 of 1971. Unlike commercial banks, NSB operates specifically as a savings institution, meaning its primary mandate is to mobilise public savings. This focus makes NSB one of the most trusted financial institutions in Sri Lanka.
What makes NSB uniquely safe is its statutory guarantee - deposits at NSB are protected not just by the Sri Lanka Deposit Insurance Scheme, but by an explicit statutory guarantee under the NSB Act. This means NSB deposits carry the full backing of the Government of Sri Lanka.
NSB FD vs. Other Banks
NSB rates are competitive with other state banks but may be slightly lower than private commercial banks. The key advantage of NSB over all other options is the statutory guarantee, which provides an unmatched level of security. For risk-averse investors, retirees, and those saving for critical goals, NSB is widely considered the gold standard for FD safety in Sri Lanka.
Special NSB Schemes
- Senior citizen rates: NSB offers preferential interest rates for depositors aged 60 and above.
- Children's savings: NSB has specific savings schemes tailored for children and young adults.
- Loan against FD: NSB allows loans against fixed deposits, letting you access liquidity without breaking the deposit.
How to Open an NSB Fixed Deposit
- Visit any NSB branch island-wide or an NSB Savings Centre.
- Bring your National Identity Card (NIC) or passport.
- Provide proof of address (utility bill, bank statement).
- Complete the FD application form.
- Deposit the required minimum amount.
- Receive your Fixed Deposit Receipt as proof of deposit.
Rates are sourced from publicly available NSB information and updated regularly. Always verify current rates directly with NSB before making any investment decision.