The government has decided to implement a special fixed deposit scheme for senior citizens, as proposed in the budget speech for the year 2025.
Accordingly, the Cabinet has approved the proposal submitted by the President, in his capacity as the Finance Minister, to implement the proposed special fixed deposit scheme as follows:
- To implement this scheme for fixed deposits opened within the period from 01 July 2025 to 31 December 2025 by Sri Lankan citizens aged 60 years or more.
- The period of the fixed deposit is 12 months (one year), and the maximum deposit value is Rs. 01 million.
- Payment of the higher value from the value when a 3% additional annual amount is added to the average weighted fixed deposits rate (AWFDR) or the value when a 3% addition is made to the declared fixed deposit interest rate.
- Allocation of Rs. 30 billion for the payment of interest relief for this whole programme. (Newswire)