The finance Ministry reveals that 15 percent interest rate on senior citizen’s savings accounts has not been changed.

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The Finance Ministry says that the interest rate of 15 percent given to senior citizens has not been changed. Paying of 15 percent of the interest rate commenced in march 2015. The interest income of senior citizens will be released up to 1 million rupees from the with- holding tax according to the budget 2015. That amount was increased up to 1.5 million rupees by the 2018 budget. The Finance Ministry said that the Treasury annually provides nearly 16 billion rupees , Commercial Banks to implement the proposal.

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2020-Jul-03 | 05:07

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