People’s Leasing affiliated to the People’s Bank enjoys its position as one of the leading and innovative nonbank finance sector companies in Sri Lanka. PLC‘s newest customer-friendly product is ‘Premier Reward Plan’.
Premier Reward Plan is an innovative investment plan with a competitive annual interest rate of 11 percent (11.62% of Annual Effective Rate) for people to achieve specific future challenges in life with ease.
This investment plan facilitates specific future investments of people such as weddings, foreign trips, pilgrimages to foreign countries, education expenses, etc.
Minimum investment period of ‘Premier Reward Plan’ is specified as two years and the maximum is five years.
PLC has offered customers the flexibility to join the investment plan according to their individual financial capabilities. For example, under the five-year plan for an amount of Rs. 100,000 a minimum amount of Rs. 1,247 would be paid monthly. If a customer deposits a greater monthly amount he/she will be entitled for a greater sum at the end of the investment period at an interest of 11 percent.
The significance of ‘Premier Reward Plan’ is for example if a customer has to pay only around Rs. 750,000 for an investment plan of Rs. 1,000,000 for five (05) years.
There is another specialty in ‘Premier Reward Plan’. If a customer is unable to invest in the five-year plan which pays a greater lump sum at the end of period, he/she can select a two-year plan and invest a larger amount than that is specified by the plan. At the end of two years he/she can re-invest that money.
Mr. Saman Liyanage, Chief Manager (Fixed Deposits and Savings) said, with the ‘Premier Reward Plan’ a customer can easily plan his specific future financial commitments few years in advance.
“This innovative investment plan facilitates, foreign trips, pilgrimages to foreign countries, education expenses. Especially young persons who are employed could select a suitable investment plan and invest in it. After few years he/she would automatically collect a huge amount from the investment scheme and they could re-invest that money and achieve their financial goals rather than borrowing through loans”, he said.
He added, “PLC has introduced ‘Premier Reward Plan’ to facilitate wise people who think today to overcome tomorrow’s financial challenges. We offer 11 percent competitive interest for the investment plan for customers to derive added benefits”.
People’s Leasing started its business operations in 1996 as a wholly owned subsidiary of one of the largest state banks in Sri Lanka, the People’s Bank.
People’s Leasing is the most rated non-bank financial institution in the country with three ratings: “B -” a rating one notch below Sovereign from Fitch Ratings International, and Company also possesses a local rating of “AA-(lka)” from Fitch Ratings Lanka Limited. People’s Leasing is the number 01 non-bank financial services brand by Brand Finance PLC. The company was also recognized as one of the best corporate citizens of the country by the Ceylon Chamber of Commerce.
PLC’s financial service product portfolio includes; leasing, auto loan, fixed deposits, saving accounts, housing and business loans, gold loans, margin trading, factoring and Islamic financial services.
People’s Leasing conglomerate consists of six subsidiaries namely, People’s Insurance PLC, People’s Micro-Commerce Ltd, People’s Leasing Property Development Ltd, People’s Leasing Fleet Management Ltd., People’s Leasing Havelock Properties Ltd and its latest foreign venture Lankan Alliance Finance Ltd.
The uniqueness of People’s Leasing is its strength and the stability to provide diverse financial solutions under one roof to its customers, thus enabling the customers to obtain convenient and customer friendly services.