News Line

    Go to Home Back
Email this to a friend
Printable version
Monday, December 28, 2009 - 3.54 GMT

Bonus Interest scheme for senior citizens

 
The Central Bank is preparing the necessary operational instructions for the banks to implement a 20% bonus interest scheme for senior citizens hard hit by the recent interest rate reduction, said Governor of the Central Bank Ajith Nivard Cabraal.

He said that this scheme, announced last week by President Mahinda Rajapaksa at a meeting with the Organization of Professional Associations, will be limited to a possible maximum of Rs. 90,000 per year and will be effective from January.

People above the age of 60-years will be entitled to the bonus interest on savings deposited in the banks, the Governor of the Central Bank said.

The senior citizens, who receive interest on a deposit with a bank, will receive an additional one-fifth of such interest from the Government as a special support, so long as Treasury bill interest rates are lower than a certain specified level, quoting the Governor Government Information Department reported.
 




 
 
   
   
   
   
   

top

   

Contact Information:: Send mail to priu@presidentsoffice.lk with questions or comments about this web site.
Last modified: December 28, 2009.

Copyright © 2008 Policy Research & Information Unit of the Presidential Secretariat of Sri Lanka. All Rights Reserved.