People’s Leasing ‘Premier Reward Plan’ for people to achieve specific financial goals

PLC customers with their Premier Reward Plan certificates at the initial launching ceremony

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% (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%.  The significance of the 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 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.  Chief Manager (Fixed Deposits and Savings) Saman Liyanage 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% competitive interest for the investment plan for customers to derive added benefits.”