The Cabinet of Ministers has green-lighted the implementation of the proposed special fixed deposit scheme for senior citizens.
As outlined in the Budget Speech for the year 2025, the government has decided to introduce a special fixed deposit scheme for senior citizens.
Accordingly, the Cabinet of Ministers has granted approval to the proposal submitted by the President, in his capacity as Minister of Finance, Plan Implementation and Economic Development, to implement the scheme as follows:
• To implement this scheme for fixed deposits opened within the period from 01.07.2025 to 31.12.2025 by Sri Lankan citizens of age 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% of additional annual amount 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 payment of interest relief for this whole programme.
