People’s Leasing, affiliated to the People’s Bank introduced its newest customer-friendly prod-uct ‘Premier Reward Plan,’ an investment plan with a com-petitive annual interest rate of 11 percent (11.62 percent of Annual Effective Rate).
This investment plan facilitates specific future investments such as weddings, foreign trips, pil-grimages, and higher education expenses. The minimum invest-ment period of ‘Premier Reward Plan’ is specified as two years and the maximum is five years. Cus-tomers have the flexibility to join the investment plan in accordance to their individual financial capabilities. For example, under the five-year plan, for an amount of 100,000 rupees a minimum amount of 1,247 rupees would be paid monthly. If customers deposit a bigger monthly amount they will be entitled for a larger sum at the end of the investment period.
Another specialty in ‘Premier Reward Plan’ is that if customers are unable to invest in the five-year plan which pays a bigger lump sum at the end of the pe-riod, they are able to select a two-year plan and invest a larger amount than that specified by the plan. At the end of two years they have the choice to re-invest that money.
Saman Liyanage, Chief Man-ager – Fixed Deposits and Sav-ings spoke on the initiative, “With the ‘Premier Reward Plan,’ a customer can easily plan his specific future financial commitments a few years in advance.
“This innovative investment plan facilitates foreign trips, pilgrimages, and education. Young people who are employed could select a suitable invest-ment plan and invest in it. After a few years they would auto-matically collect a big amount from the investment scheme and they could re-invest that money and achieve their finan-cial goals rather than borrowing through loans.”
