Senior citizens get bonus on interest
All Sri Lankan citizens above 60 will receive a bonus interest of 20
percent on the interest drawn from their savings and fixed deposit
accounts maintained at any state or private registered bank in Sri Lanka
from January 1 this year, Export Development and International Trade
Minister and Cabinet Spokesman Prof. G. L. Peiris said.
According to Prof. Peiris, Cabinet has approved a Cabinet memorandum
presented by President Mahinda Rajapaksa as Finance and Planning
Minister to pay an extra interest of 20 percent on their current
interest for all senior citizens to strengthen their economy and ensure
Under the new measure, all senior citizens who receive interest in
rupees from their bank accounts will receive an additional interest of
20 percent on this interest.
It will be within the limits of Rs.120,000 per year and Rs.10,000 per
month. One of the main factors affecting the growth of small and medium
scale enterprises was the high interest rates that existed in the past.
At that time the interest rate of treasury bills reached 20 percent.
But now the interest has gone down to 8 to 10 percent. This is a very
healthy trend for the growth of small and medium scale enterprises, he