The Government has decided to pay a 20% bonus interest to citizens over 60 years of age, on interest on their rupee savings and fixed deposits held with licensed banks, with effect from 01.01.2010, subject to a limit of Rs.120,000 per senior citizen per annum.

The deposits that will receive bonus interest are existing or new rupee savings or fixed deposit accounts of senior citizens held individually or jointly, existing or new joint deposit account/s of a senior citizen with his/her spouse and joint deposit accounts of senior citizens with individual/s of below 60 years of age (other than the spouse) that have been in operation before 01.01.2010. New joint accounts of this category will not be considered under the scheme.

Interest payments to eligible depositors for the month of January 2010 will commence from 18.03.2010 at Bank of Ceylon, Citibank N.A, Deutsche Bank AG, Hatton National Bank PLC, Housing Development Finance Corporation Bank of Sri Lanka, ICICI Bank Ltd, MBSL Savings Bank Ltd, Nation Trust Bank PLC, Pan Asia Banking Corporation PLC, People’s Bank, Rajarata Development Bank, Sabaragamuwa Development Bank, Sampath Bank PLC, Sanasa Development Bank Ltd., The Hongkong & Shanghai Banking Corporation Ltd, Union Bank of Colombo Ltd, and Wayamba Development Bank.