ends senior citizens special 3 % interest scheme By Bandula Sirimanna View(s): View(s):Sri Lanka’s senior citizen interest scheme’s landscape has shifted from direct government-funded high-interest subsidies toward a model of targeted social welfare and the settlement of past financial obligations. The specialised 3 per cent extra interest scheme for senior citizens, which was one of the cornerstones of the 2025 Budget, has closed its enrollment period on December 31, 2025 and being discounted in 2026. The government overhauled its senior citizen interest subsidy scheme by the end of 2025 following the discovery of significant fiscal mismanagement, including massive cost overruns and Rs. The government’s involvement in elderly interest rates has evolved through two distinct phases, according to ministry sources:The 15 per cent interest scheme was introduced in the 2015 Interim Budget where it mandated a 15 per cent interest rate for senior citizens’ deposits up to Rs. The second scheme was in July 2025 where an extra 3 per cent was given to senior citizens seeking to deposit a maximum of Rs.

Source: Sunday Times February 28, 2026 20:30 UTC