Fixed Deposit Calculator Sri Lanka

Enter the annual rate offered by your bank or finance company, your deposit and its term. Compare monthly interest with a maturity payout and see the usual 10% advance income tax deduction. Treasury bills use a different return model and are not calculated here.

Turn off only if your bank confirms a valid exemption or declaration
Enter the annual rate quoted by your bank to see the estimated return.

How the fixed deposit estimate works

Enter the amount, your bank's annual rate and the number of months. Gross simple interest is the deposit multiplied by the annual rate and the term as a fraction of a year.

When the tax switch is on, the calculator deducts 10% advance income tax from the gross interest. A monthly payout divides the remaining interest across the term; a maturity payout adds it to the principal at the end.

Illustration: Rs. 1,000,000 at 12% simple interest for one year
LineAmount
Gross interestRs. 120,000
AIT at 10%Rs. 12,000
Interest after AITRs. 108,000
Maturity valueRs. 1,108,000
Monthly payoutRs. 9,000

Check the bank's payout terms

This tool uses simple interest. A bank may compound a maturity deposit, quote different rates for different terms, or change the return for early withdrawal.

Use the institution's written offer to confirm its rate, payout schedule, compounding convention and any penalties.

Deposit tax and Treasury bills are different

The IRD's deposit circular applies 10% advance income tax to interest or discount paid by banks and financial institutions. An eligible resident individual expecting no taxable income may submit a self-declaration under the IRD's 2026 notice.

Treasury bill interest or discount is not subject to AIT at source according to the IRD's Treasury bill notice. Treasury bills are issued at a discount and are outside this calculator's fixed-deposit model.

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Frequently asked questions

The Inland Revenue Department requires banks and financial institutions to deduct 10% advance income tax from deposit interest or discount from 1 April 2025, unless a valid exception applies. The calculator shows that deduction when its switch is on.

A qualifying resident individual who expects no taxable income may submit a self-declaration to the bank. The IRD has published a notice for the 2026/2027 year and subsequent years. Do not switch off the deduction in this estimate unless your bank confirms the declaration applies.

Simple interest. It multiplies the deposit by the annual rate and the term in years. A bank that compounds a maturity deposit may pay a different amount; use its written maturity quote for the final figure.

At an illustrative 10% annual simple rate, gross interest would be Rs. 100,000. A 10% advance income tax deduction would leave Rs. 90,000 paid out. Enter the rate your institution offers.

No. A Treasury bill is issued at a discount to face value and is quoted using a yield convention that differs from a fixed deposit. The IRD also says Treasury bill interest or discount is not subject to advance income tax at source, though it can be assessable income. Use a separate Treasury bill quote and tax guidance.

Monthly payout provides regular cash. A maturity payout may earn more if the bank compounds interest, which this simple-interest estimate does not model. Compare the bank's written payout schedules rather than the headline rate alone.