Wednesday, 31 December 2014 - 12:41
Sri Lanka's Central bank to provide 12 pct interest scheme for senior citizens.
Sri Lanka’s Central Bank is to provide a 12 percent annual interest rate scheme for deposits of citizens over 60 years of age, who maintain fixed deposits totalling up to 2 million 500,000 rupees in licensed banks.
They will be eligible to receive an annual interest income of up to 300,000, rupees with effect from 1st of January 2015.
For this purpose, the necessary operating instructions have been issued to all licensed banks who will be the participating banks in this scheme.