A special Fixed Deposit account introduced for Senior Citizens with an attractive interest rate.
Product Overview
The Special Fixed Deposit Scheme for Senior Citizens 2025 is tailored for senior citizen individuals above 60 years of age to offer enhanced returns and financial security. This limited period scheme provides attractive interest rates tailored to the needs of senior citizens.
Eligibility Criteria
- Must be a resident Sri Lankan citizen aged 60 years or above as of the date of deposit opening
- National Identity Card (NIC) is mandatory for verification
- The deposit holder must declare that his/her monthly income is less than LKR 150,000 per month to be eligible for the scheme
Scheme Duration
01st July 2025 to 31st December 2025
Deposit Type & Tenor
12-month Fixed Deposit – Interest payable monthly (Interest must be withdrawn monthly and auto-renewal is not permitted)
Interest Rate
Average Weighted Fixed Deposit Rate (AWFDR) + 3% per annum OR the Bank’s Sheet Rate + 3%, whichever is higher.
Maximum Total Deposit Amount Per Depositor
Maximum of Rs. 1 million per depositor (total deposit value) across all Participatory Banks.
Joint Deposits
Permitted only if both deposit holders are senior citizens. (The primary deposit holder is allowed to maintain a maximum of Rs. 1 million).
Premature Withdrawal
Permitted. Penal interest shall not be applied on this scheme and the Bank shall pay interest for the period the deposit was maintained at the agreed interest rate.