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What is 20% Bonus Interest for Senior Citizens about?

This document outlines the operating framework for a scheme that provides a 20% bonus on interest earned from rupee deposits for senior citizens aged 60 and older at licensed banks in Sri Lanka. Key points include: - Senior citizens are eligible for the bonus on existing or new individual/joint accounts with spouses or others opened before 2010. The bonus equals 20% of monthly interest accrued up to a maximum annual payout of Rs. 120,000 per senior citizen. - Licensed banks must report account interest d

Author

Vanusha Adihetty

Language

EN