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Limit raised to Rs. 1.5 Mn at 15% for senior citizen Fixed Deposits


The Finance Ministry said today it had increased the upper limit to Rs.1.5 million for senior citizens fixed deposits at the interest rate of 15% per annum from March 1.

The previous limit qualifying for this special interest rate at Commercial and licensed Specialized were fixed deposits up to Rs.1 million.

The ministry said in a statement that on the instruction of Finance Minister Ravi Karunanayake, Treasury Secretary R.H.S. Samaratunga had informed the Central Bank to notify all banks that the previous circular in this regard had been amended.

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