People’s Bank empowers senior citizens
People’s Bank has continued to empower the lives of senior citizens of Sri Lanka by providing them a wide array of products and services that ensure that they are able to live life to the fullest.
People’s Bank introduced the ‘Parinatha’ account several years ago to provide financial stability to senior citizens so that they can enjoy their retirement years in a happy, carefree manner. ‘Parinatha’ is a specialised account for senior citizens who are looking forward to living life to the fullest after they retire.
The account can be opened by anyone over the age of 55 years.
They are able to obtain loans of up to 90% of the account balance at one of the lowest interest rates in the market. They are also entitled to receive a bonus interest of 1% over the normal savings rate making it the highest interest rate in the market as well as concessionary rates for overseas pilgrimages through People’s Travels. People’s Bank also made history recently by becoming the first State bank to accept fingerprints of pensioners for verification purposes, in lieu of the conventional life certificate.
With the aim of helping government pensioners in senior citizens with matters such as their medical treatments as well as children’s housing, higher education and nuptials, People’s Bank has also introduced a special loan scheme for senior citizens.