FD interest rates – senior citizens left high and dry

9 February 2026 12:48 am Views - {{hitsCtrl.values.hits}} 4 Bookmark

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The government must urgently re-evaluate interest rates on fixed deposits of senior citizens.

Before last year it was fixed at 15% per annum for a fixed deposit of 1.5 million rupees.

This was reduced to about 11% for a deposit of 1 million rupees. After 1 year in operation now it hovers around 7 to 8% interest rate per annum. This is a wholly unsustainable situation for our elderly citizens. Prices have sky rocketed from food stuff to daily necessities.

What’s more, prices of medicine and health care is beyond the reach of many retirees. After many years of dedicated service they deserve better care and looking after.

Therefore I request the government to urgently look into this matter and mete out a fair and just return for the fixed deposits of our senior citizens.

Vajira Cabral Munasinghe

Comments - 4

Ram P Monday, 09 February 2026 04:02 AM

Interest rates must be increased at least to cover the Senior citizens. The olden day 1.5M is a suitable capital provided some acceptable interest is offered. Any further investment can be on the lower interest offered to all others. At the same time the Government must be mindful that if competitive interests are offered to Forex deposits there will be many SL dual citizens investing their savings in SL. Of course they must be allowed to withdraw them at their will. If not they will not invest. Government must remember if Forex deposits are received our Rupee is going to appreciate

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Tavisha Udupihille Monday, 09 February 2026 11:12 AM

If banks pay you 15% interest to whom can they lend that money to at such high interest?

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Adwani Monday, 09 February 2026 09:51 PM

Seniors have become, senior beggars due to low interest interest rates on FDs.

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Mohamed Burhan Tuesday, 10 February 2026 04:56 PM

Correct if bank pays 15% whom can Bank lend for 15%.Is it not possible to pay 11% upto 1.5M.He will get nearly 14000 per month.Any additional money available to invest.other state banks pay 6 to 7% and some private banks 8% or more.Snr.citizrns should reasonably think as per the country situation.

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