15% interest rate for senior citizens’ depositors from today (Thursday)

15% interest rate for senior citizens’ depositors from today (Thursday)

The 15% special interest rate for depositor senior citizens is being accepted by all Sri Lankan commercial banks from Thursday, industry officials

The Central Bank (CB) in an announcement on Wednesday evening said that the Government “has now finalised the procedure for implementation of the Special Interest Scheme for Senior Citizens announced in the Interim Budget 2015 with effect from 01.02.2015. Accordingly, the CB issued the necessary Operating Instructions on behalf of the Government to all banks today”.

Officials at the Bank of Ceylon, when asked by the Business Times, said any eligible depositor can open this account from today at any of the bank branches.

The scheme is eligible to those above 60 years who can open accounts under this interest rate scheme on a deposit not exceeding Rs.1 million. This will also apply to elderly depositors who recently opened accounts under the 12 per cent interest scheme proposed in former President Mahinda Rajapaksa’s budget presented in October 2014. The CB statement said the scheme is effective from February 1. – ENDS -