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| Sunday, 25 May 2003 |
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| News Business Features Editorial
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NSB deposit scheme for senior citizens by Pelham Juriansz The National Savings Bank (NSB) has launched 'Gaurawa', a deposit scheme for senior citizens. The scheme will enable Sri Lankans above 60 years of age to open an account, either individually or jointly, with a minimum deposit of Rs 5,000. They will receive a monthly interest which is 1.5 per cent more, per annum than the interest rate of normal fixed deposits. Account holders who maintain a balance of Rs 100,000 or more will have the option of joining an insurance scheme which is tailor made for customers in this category. They will have the option of joining a group insurance scheme.They will also be eligible for an annual prize draw in which 10 winners receive travel packages worth Rs 50,000 each to go on a pilgrimage or the equivalent amount in cash. Loans against deposits will be granted with a lower interest than normal.Festival advances in April and December are also on offer to those having a Rs 100,000 fixed deposit. The maximum amount will be Rs 3,000, recoverable in 12 monthly instalments at a lower interest rate. All 'Gaurawa' account holders will receive priority service at the bank. Plans are afoot to establish a Senior Citizens Club at branch level, through which social and welfare activities will be organised for members. A card will be issued to all members. NSB, which was set up in 1972, has a network of over 113 branches island-wide and more than 13.1 million account holders. |
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