|
|
 |
 |
| Sunday, 27 October 2002 |
 |
|
 |
Business |  |
| News Business Features Editorial
|
Monthly returns for life from NSB by Elmo Leonard The National Savings Bank (NSB) will launch a savings scheme termed 'Friends' on October 31 to coincide with International Thrift Day. "With this scheme, NSB plans to encourage savings among Sri Lankans, which in turn would be used for national development," NSB's General Manager E. Narangoda said.At a news conference held to announce the launch, Narangoda said 'Friends' is similar to a pension scheme. Deputy General Manager, Sunil Perera described the account as a deposit scheme which would give a monthly return for life. The 'Friends' deposit savings scheme is open to anyone between the ages of 18 and 65 years. It is also suitable for the self-employed, and those who do not receive a pension. The account can be opened with a minimum deposit of Rs 100, or its multiples. If a person starts depositing Rs 1000 per month, he/she will receive a monthly income of Rs 1000 for the rest of his/her life, when a limit of Rs 500,000 is met. Thereafter, the depositor's nominee would receive the monthly income for life. The depositor has the option of doubling or trebling the monthly income by accumulating the monthly income in his/her account for further cycles, NSB's Working Director, Anil Rajakaruna said. In the event of death or complete disablement of an account holder during the contributory period, the Sri Lanka Insurance Corporation would provide an insurance cover to continue the monthly payment up to a maximum of Rs 500,000. |
|
News | Business | Features
| Editorial | Security Produced by Lake House |
