- Advanced Income Tax (Withholding Tax) Rate change from 5% to 10% W.E.F 01.04.2025 and Self-Declaration for AIT Relief on Interest Income
Based on the Inland Revenue (Amendment) Act, No. 2 of 2025 certified by the Speaker on 20 March 2025, below changes will be effective from 1 April 2025.
- AIT (WHT) of 10% will be charged on interest payments applicable for all deposit holders, except for.
- Interest paid to foreign currency accounts.
- Interest paid to persons who have obtained an approval from the Department of Inland Revenue (IRD) to claim an exemption or a reduced rate for AIT on deposit interest and have advised the Bank to act based on such approval issued by the IRD
- Amounts derived by,
- The government of a foreign country or territory, as specified under diplomatic immunity laws or similar laws.
- An international organization, as specified under diplomatic immunity laws, similar laws, or an agreement with the Sri Lankan government.
provided that the exemption provided under the agreement shall be broader than that provided under diplomatic immunities law or a similar law.
- If you are a Sri Lankan resident and your assessable income (from all sources) does not exceed Rs. 1,800,000, you may be eligible for relief from AIT on your interest income by submitting a self-declaration to your bank or financial institution.
Who is Eligible to Submit a Self-Declaration?
- You must be a Sri Lankan resident as per the Inland Revenue Act.
- You must earn interest income from Sri Lankan banks or financial institutions.
- Your total assessable income (from all sources, including salary, business income, and investments) should not exceed Rs. 1,800,000 for the relevant year of assessment.
What is Assessable Income?
Assessable income includes:
- Salary or wages from your job
- Business or professional income
- Investment income, such as interest or dividends
- Any other income subject to tax under Sri Lankan law.
How to Submit the Self-Declaration?
- Download the form from the Inland Revenue Department's website (www.ird.gov.lk).
- Fill out the form accurately and submit it to your bank or financial institution where you hold your deposits.
- If you have accounts with multiple banks or institutions, submit a separate declaration to each.
Important Notes:
- TIN Requirement: You must have a Taxpayer Identification Number (TIN) to submit the self-declaration. Ensure that your TIN is included in the form.
- The self-declaration is valid for one year of assessment only (April 1st to March 31st of the following year). You must submit a new declaration each year.
- If AIT has already been deducted from your interest income before submitting the self-declaration, the bank cannot refund the deducted amount. You must apply for a refund directly with the Inland Revenue Department.
- If you open a new deposit account, your previous declaration becomes invalid, and you will need to submit a new one.
Can a Guardian Submit a Declaration for a Minor?
Yes! If you're a guardian for a minor, you can submit the declaration on their behalf but be sure to include the guardian's NIC and TIN.
Additional Information:
- Joint Account Holders: Each individual must submit a separate self-declaration for their share of the interest income.
- If the information in your declaration is found to be incorrect, your declaration will be considered invalid, and AIT will be deducted. Inaccurate information may also lead to penalties under the Inland Revenue Act.
Upon receiving a valid declaration as outlined in the IRD circular “SEC/2025/E/03” dated 28.03.2025, the Bank will not deduct any taxes from interest payments to those individuals.
Need Assistance?
If you need help with filling out the form or have any questions, feel free to reach out to your nearest Inland Revenue Regional Office or call the Inland Revenue Call Centre at 1944.
Stay informed, and make sure to submit your self-declaration before the deadline to avoid AIT deductions on your interest income.
Please feel free to contact your branch for any assistance in this regard.
Thank you for choosing Nations Trust Bank.
- Revision of Interest Payment Threshold for Generic Savings & FriMi Savings/ සාමාන්ය ඉතුරුම් සහ ෆ්රීමි ඉතුරුම් සඳහා ඇති පොලී ගෙවීමේ සීමාව සංශෝධනය කිරීම/ பொதுவான சேமிப்புகள் மற்றும் FriMi சேமிப்புகளுக்கான வட்டிக் கொடுப்பனவின் அடிப்படை அளவை திருத்தம் செய்தல்
Please be informed that effective April 1, 2025, the interest payment threshold for Generic Savings and FriMi Savings accounts will be revised to minimum Rs. 5,000. For more details, contact us at 0114 711 411. Thank you for banking with us.
සාමාන්ය ඉතුරුම් සහ ෆ්රීමි ඉතුරුම් සඳහා ඇති අවම පොලී ගෙවීමේ සීමාව, 2025 අප්රේල් 1දා සිට බලපැවැත්වෙන පරිදි රු. 5,000 ලෙස සංශෝධනය වන බව කරුණාවෙන් සලකන්න. වැඩිදුර විස්තර සදහා 0114 711 411 අමතන්න. ස්තූතියි.
பொதுவான சேமிப்புகள் மற்றும் FriMi சேமிப்புகளுக்கான வட்டிக் கொடுப்பனவின் அடிப்படை அளவு 2025 ஏப்ரல் 1 தொடக்கம் நடைமுறைக்கு வரும் வகையில் குறைந்தபட்சம் ரூ.5,000 ஆக திருத்தம் செய்யப்படும் என்பதை தயவுசெய்து கவனத்தில் கொள்ளவும். மேலதிக விபரங்களுக்கு, 0114 711 411 என்ற எண்ணைத் தொடர்பு கொள்ளவும். நன்றி.
- Bank At your Door step Special Notice
Please note that our "Bank at Your Doorstep" service will be discontinued effective February 1, 2025. We encourage you to explore our digital channels, designed to provide enhanced safety, convenience, and 24/7 access throughout the year.
- Relocation of Our Kurunegala Branch / අපගේ කුරුණෑගල ශාඛාව, අලුත් පරිශ්රයක් වෙත රැගෙනයාම / எமது குருநாகல் கிளையின் இடமாற்றம்
Our Kurunegala branch is relocating to 186, Negombo Road, Kurunegala, starting from 7th October 2024. Kindly contact the branch for further clarifications. Thank you.
කුරුණෑගල ශාඛාව 2024 ඔක්තෝම්බර් මස 07 වන දින සිට, අංක 186, මීගමුව පාර, කුරුණෑගල යන ස්ථානයට රැගෙන යන බව කරුණාවෙන් සලකන්න. වැඩිදුර තොරතුරු සඳහා ශාඛාව අමතන්න. ස්තූතියි.
எமது குருநாகல் கிளை 2024 அக்டோபர் 07 தொடக்கம் இல. 186, நீர்கொழும்பு வீதி, குருநாகல் என்ற முகவரிக்கு இடமாற்றப்படவுள்ளது. மேலதிக விபரங்களுக்கு கிளையினைத் தொடர்புகொள்ளவும். நன்றி.
- Business Banking Service Tariff Revisions 2024
Please note that Business Banking service tariffs will be revised effective 14th October, 2024. Click bit.ly/BB-Tariff for more information.
- Consumer Banking Service Tariff Revisions 2024
Please note that consumer banking service tariffs will be revised effective 8th August, 2024. Click https://bit.ly/tariff_revisions_24 for more information.
- Credit Card Tariff Revisions 2024
- Establishment of Business Revival Unit
In accordance with the instructions given by the Central Bank of Sri Lanka, a Business Revival Unit has been established in accordance to Circular No.02 of 2024 with effect from 01st July 2024.
The Business Revival Unit is responsible to identify and assess the revivability of businesses that are facing actual or potential financial difficulties. The Business Revival Unit shall use financial and/or operational restructuring tools or any combination to revive distressed businesses adhering to the classification criteria mentioned under Circular No.02 of 2024 issued by CBSL.
For more details, please contact your Relationship Manager/ Branch Manager with details of distress encountered and the assistance required from the Bank to overcome same.
- Nations Mega Saver interest rate will be revised as below with effect from 01st September 2023
| Deposit Classification | Interest Rate |
| Less than 500,000 | - |
| 500,000 - 999,999 | 3.00% |
| 1,000,000 - 2,999,999 | 3.25% |
| 3,000,000 - 9,999,999 | 3.50% |
| Above 10,000,000 | 4.75% |
- Nations Saver interest rate will be revised as below with effect from 01st August 2023
| Account Balance (LKR) | Interest Rate (p.a.) |
| 2,000 Above | 2% |
- Notice
Please note that the initial deposit amount of the Nations Saver, Nations Max Bonus, Nations Prabuddha Senior Citizen Savings and Nations Tax Planner accounts will be revised to Rs. 10,000/- with effect from 01st January 2023.
- Tariff Revisions 2022/2023
- Cheque book issuance charge: Rs. 25/- per leaf
(effective: 1st December 2022) - Safe Deposit Locker Charges
Large: Rs. 10,000/-
Medium: Rs. 7,500/-
Small: Rs. 5,000/-
(effective: 1st December 2022) - BAYD Visit Fee: Rs. 1,250/-
(effective: 1st December 2022) - Cashbacked loans/Overdrafts
Facilities less than Rs. 500,000 will be charged Rs. 1500/-
Facilities more than Rs. 500,000/- will be charged Rs. 3000/-
(effective: 1st December 2022) - Digital Services Annual Fee: Rs. 500/-
(effective: 1st February 2023)
- Cheque book issuance charge: Rs. 25/- per leaf
- Notice
Dear Business Banking Member, please be informed that all Bank statements issued by Nations Trust Bank will be e-statements and paper statements will be discontinued with effect from 15th September 2022. Please contact your Relationship Officer or visit the nearest branch to register for the e-statement service. Thank you.
- Suspension of pawning services
We are hereby notifying you that Nations Trust Bank has discontinued pawning operations with effect from 17-05-2022. Therefore, we urge you to redeem your gold materials on or before the maturity by settling the capital amount and the interest due to date, by visiting the branch at your earliest. Please contact your branch manager for further information.
- Senior Citizens Fixed Deposit Renewal
In accordance with the instructions given by the Central Bank of Sri Lanka, Senior Citizens Fixed Deposit account(s) can be placed only for a period of 01 year and will not be renewed automatically with effect from 1st March 2022.
If you wish to reinvest the Fixed deposit(s) please visit your home branch on or before the maturity date to complete the documentation.
For more details, please contact your Relationship Manager/ Branch Manager
Thank You
- Amendment to General Business Conditions (Joint Accounts)
In the event of an account being a joint account, the joint account holders shall be jointly and severally liable for any overdraft loan or other credit facilities or accommodation granted to any such account, together with all interest, commissions and other banking charges and expenses.
Where any account is in joint names, in the event of the death of any joint account holder, the remaining account holder/s of such account shall be treated by the Bank as the holder/s of such account and as the only person/s having any title or interest to the monies in such account. Accordingly, notwithstanding anything to the contrary in the operating instructions, the monies in such account shall be paid by the Bank to the surviving account holder/s.
Any notice required to be given to joint accountholders shall be addressed to the primary account holder
- Nations Max Bonus base interest rate will be revised to 2.5% with effect from 01st March 2021 and bonus interest rates will remain the same.
- SMS Banking Service Migration to Digital Services
SMS banking services will migrate to digital banking services effective 1st October 2020 and we encourage you to access your card/bank account details with ease via below mentioned digital banking services;
- Inner Circle segment & Salary Saver Account fee effective 1st July 2020
| Client Category | ATM Withdrawals from other BANK LankaPay ATM’s (per month) | CEFT Charges (Online/Mobile) |
| Inner Circle Members | 3 free withdrawals* | LKR 50/- per transaction |
| Nations Salary Saver Customers (Individual Category) | No free withdrawals (Rs.30 per withdrawal) | LKR 50/- per transaction |
*Note: ATM withdrawal fee will be charged for first 3 withdrawals and refunded at the end of the month
- Suspension of Nations Business Rewards Programme
Dear Valued Customer,
The Nations Business Rewards Programme will be temporarily suspended w.e.f 01/06/2020 until further notice. This will not impact the rewards earned up to 31/05/2020.
Please contact your Account Relationship Officer for any further clarification.
We appreciate your patronage and patience.
- Postponement of Annual General Meeting
Notice is hereby given that the Annual General Meeting of Nations Trust Bank PLC, which was scheduled to be held at 10.00 am on 31st March 2020, has been postponed.
This decision has been taken due to the prevailing situation in the country due to the outbreak of COVID-19 (Coronavirus) and the Government's directive to avoid public gatherings.
At this time, the safety and well- being of our shareholders, our people and the public are our top priority.
The new date and venue for the AGM will be notified in due course. We regret any inconvenience caused in this regard.
- Indefinite Suspension of “Fuel Up & Win a Cruise Tour” Promotional Draw
Dear Cardholder,
We regret to bring to your notice that the Fuel Up & Win Promotional Draw, with an all-expenses-paid cruise holiday for the winning Cardholder and their travel companion, has been indefinitely suspended. This is as a result of the prevailing health and safety concerns in the Far East, which is the operating area of the planned cruise package and includes stops in Malaysia, Singapore & Thailand; all countries presently affected by the on-going 2020 Novel Corona Virus Epidemic.
As the safety and well-being of all our Cardholders are top on the list of our priorities, we have been regrettably compelled to take this serious measure and we sincerely regret any inconvenience caused.
We also take this opportunity to thank our Cardholders for their loyalty. We take great pleasure in designing and providing unparalleled loyalty rewards programmes such as “Fuel Up & Win”, which is one of our longest-running programmes. We are working towards delivering alternative programmes that do not present any undue risks to our Cardholders in the near future.
Thank you for your patience and understanding.
Nations Trust Bank Master Card Credit Cards
- Nations Trust Bank has appointed the following agents to provide the stated services on behalf of the Bank:
Cash Delivery Agencies
- AB Securitas (Pvt) Ltd.
- Transnational Logistic Solutions Lanka (Pvt) Ltd.
- Certis Lanka Secure Logistics (Pvt) Ltd.
Inward Remittances
- Singer Sri Lanka PLC
- Please note that the operating hours of "Bank at Your Door Step" (BAYD) service will be revised with effect from 1st September 2019. Click here for details.
- The Financial Intelligence Unit of the Central Bank has issued a warning about fraudulent schemes designed to mislead individuals. Click here for more details.
- Click here to view our revised Fees & Charges
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