The Cabinet of Ministers has approved the implementation of a special fixed deposit scheme for senior citizens, as proposed in the 2025 Budget.
The initiative, introduced by President Anura Kumara Dissanayake in his capacity as Minister of Finance, Plan Implementation, and Economic Development, aims to support citizens aged 60 and above.
According to the scheme, eligible Sri Lankan citizens can open fixed deposits between July 1 and 31st of December 2025.
Each fixed deposit will have a one-year term, with a maximum deposit limit of Rs. 1 million per individual.
Depositors will benefit from a 3% additional annual interest, either on top of the Average Weighted Fixed Deposit Rate (AWFDR) or the declared fixed deposit interest rate—whichever is higher.
The government has allocated Rs. 30 billion to provide interest relief under this programme, enhancing financial security for the elderly population.
