Central Bank of Sri Lanka has said that it had instructed all the banks to allow senior citizens who are over 60 years of age to avail them of the special interest scheme meant for them as announced in the interim budget of 2015, with effect from February 1, 2015.

Accordingly, senior citizens above the age of 60, who held fixed deposits not exceeding Rs.1 million in aggregate in all banks as at January 31, 2015, would be eligible for an interest rate of 15% per annum. Senior citizens who have reached the age of 60 after January 31, 2015 and hold fixed deposits not exceeding Rs.1 million will also be eligible for the same interest rate.

Senior citizens who opened fixed deposits of up to Rs.2.5 million prior to January 16, 2015, under the previous scheme, will be eligible for a 12%per annum interest rate

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