Branch Locator
About Senior Citizens
LB Finance Senior Citizens Savings Account is designed to help senior customers of 60 years and above to grow and manage their savings with convenient access and reliable banking facilities.
The account offers tiered interest rates calculated on the daily balance, with interest accrued daily and capitalized at the end of the month. Customers can also enjoy VISA-enabled debit cards, ATM withdrawals, POS transactions, and SLIPS/CEFTS transfer facilities.
- Tiered interest rates calculated on the daily balance.
- Interest accrued daily and capitalized monthly.
- VISA-enabled debit cards available.
- ATM withdrawals locally and internationally.
- Internal standing orders and direct debits available free of charge.
- No opening fee or maintenance fee.
- Deposit insurance coverage up to Rs. 1,100,000.
Why Save with LB Finance?
A savings solution for senior customers with daily balance interest, flexible access, and convenient digital transaction facilities
- Interest on Daily Balance
- Earn interest based on your daily balance, with interest capitalized monthly.
- Convenient Debit Card Access
- Use a VISA-enabled debit card for ATM withdrawals and POS transactions.
- Easy Access to Funds
- Withdraw through LankaPay-enabled ATMs locally and VISA-enabled ATMs internationally.
- No Opening or Maintenance Fee
- Open and maintain the account without an opening fee or maintenance fee.
- CBSL-Regulated Deposit Protection
- Deposits are protected up to Rs. 1,100,000 based on the amount deposited.
Who Can Open This Account?
- Individuals aged 60 years or above.
- Sri Lankans with a valid NIC or Passport.
- Foreigners with a valid residence visa in Sri Lanka.
- Customers who can maintain the minimum balance of Rs. 500.
Legal provision
- 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.
Documents You'll Need
- Valid National Identity Card or Passport.
- Proof of current residential address.
- Residence visa for foreign applicants.
- Completed account opening forms.
Sri Lanka Deposit Insurance Scheme (SLDIS) Information: SLDIS's web
For more information, please visit the following link: SLDIS's FAQs
How to Apply in 3 Simple Steps
1
Apply Online or Visit Branch
Apply online or visit any LB Finance branch for assistance.
2
Submit Documents
Submit your NIC or Passport, proof of address, and other required documents.
3
Make Initial Deposit & Start Saving
Deposit Rs. 500 or more and begin earning interest on your savings.
Frequently Asked Questions
The minimum balance requirement is Rs. 500.
Tiered interest rates apply, and interest is calculated on the daily balance. Interest is accrued daily and capitalized at month end.
No. There is no opening fee.
No. There is no maintenance fee.
No. Account holders below 18 years of age are not allowed to open this account.
Need help?
Our experts are ready to assist you.
