Srilanka, July 1 -- The Ministry of Finance has officially launched the special fixed deposit scheme for senior citizens, as proposed in the 2025Budget. The scheme comes into effect starting 01 July 2025.

Key Features of the Scheme: Eligibility: Sri Lankan citizens aged 60 years or above.

Deposit Period: 12 months (1 year).

Deposit Limit: Maximum of Rs. 1 million.

Interest Benefit: Depositors will receive either:

An additional 3% over the Average Weighted Fixed Deposit Rate (AWFDR), or

An additional 3% over the declared fixed deposit rate-whichever yields a higher return.

The government has allocated Rs. 30 billion to cover interest subsidies under this initiative.

Senior citizens interested in availing themselves of the benefits...