The government has introduced a Special Interest Scheme to be implemented from July 2025. Under this scheme, individuals above 60 years of age will be eligible for one-year fixed deposits of up to Rs. 1 million, with an additional interest rate of 3 percent above the prevailing market rates.
To support this scheme, the government plans to allocate Rs. 15,000 million to subsidize the additional interest for senior citizens. This move is expected to provide much-needed financial relief and security to the elderly population.