Sri Lanka to pay extra interest to senior citizens

Jan 15, 2010 (LBO) – Sri Lanka’s government will pay an extra 20 percent ‘bonus interest’ for rupee deposits maintained at licensed commercial banks by senior citizens, the Central Bank said. The extra interest will be 20 percent of the interest earned after January 01, subject to a limit of 120,000 per person per year. “All Sri Lankan citizens above the age of 60 years will be eligible to receive the bonus interest on their rupee savings and fixed deposits held in licensed banks,” the Central Bank said in a statement.