A token of love and appreciation to our senior citizens to ensure dependable stability for their golden years. Our Senior Citizens Savings Accounts come with tiered interest rates which are applicable for savings accounts and interests calculated depending upon the daily balance. Interests are accrued on a daily basis and capitalized at the end of each month. The account also provides features such as VISA enabled debit cards, POS transactions for debit card holders, ATM withdrawals through any Lanka Pay enabled ATM machine locally and VISA enabled ATM machine internationally.
LB e-connect facility which is provided free of charge for quick and easy transactions anytime, anywhere, Internal Standing Orders and Direct Debits which are completely free of charge, and SLIPS/ CEFTS transfer facilities for your absolute convenience.
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Restrictions on opening an account/ closing an account/transfer of funds by customers:
- Account holders with age below 60 years are not allowed to open Senior Citizens Savings accounts.
- Terms and conditions of Regular Savings Accounts will be applicable for the joint accounts with a non-senior citizen.
- The minimum balance requirement for a savings account is Rs. 500.00
- Fixed Deposits account holders or ‘Dirimaga’ customers can have a minimum balance of Rs.100.00. No opening fee or maintenance fee is applicable.
- Account holders are eligible for a Deposit Insurance Coverage of a maximum of up to Rs.1,100,000.00 based on the amount deposited
- Contract Law
- Directions & Circulars of Central Bank Policies and procedures on dormant accounts and abandoned properties
- Savings accounts with no transactions for a one-year period are classified as Dormant Accounts.
- A duly filled Dormant Account Activation Form along with identity confirmation are required to
reactivate a dormant account.
