Rid yourself of extensive documentation and unnecessary time delays. People's Finance PLC makes your life easy, providing all your leasing and hire purchasing needs without any hidden cost. Facilities can be arranged for registered vehicles for up to five years.
- Personal Loans
- Term Loan
- Mortgage Loans
- Motor Loans
- Letters of Guarantee
- Vehicle Imports
- Real Estate
- Forex
- Factoring
- Agricultural Loans
- Project Loan
- Maximum Loan Amount - Depends on monthly salary
- Repayment Period - Negotiable
- Free Visa International Debit card
- People's Finance PLC Savings Account holders
(anyone can open an account from any PF or selected PLC branches with a minimum deposit of LKR 1,000/-) - The applicant should be a permanent employee of a Commercial Bank, Government organisation or any organisation acceptable to
PF - The applicant should have a minimum net salary of LKR 12,000/- per month
- Copy of National Identity Card
- Letter from employer confirming permanency of employment (any letter such as increment, promotion, etc is acceptable)
- Salary slips for past 3 months
- Bank Account (Current Account) statements for past 3 months
- Cash back loan
- Letter of guarantee
- Balance confirmation letter to embassy
PF Super Savings
Quick Cash is a Personal Loan scheme for individuals to meet expenses/costs related to personal needs.
Features of Facility:
Who is eligible for a Quick Cash loan?
What documents are required from applicants and guarantors?
What are the benefits?
Murabahah
Murabahah is a Shari'ah compliant product that provides short to medium term financing of working capital requirements and purchase of goods/assets. The Company purchases goods/assets at the customer's request and sells them at a sale price on deferred payment basis. The Company will inform the customer of the cost breakdown and profit in the sale price. This is a popular mode of financing for registered vehicles at People's Finance PLC.
Mudharabah
An investment with unique terms and conditions, Mudharabah has already proven highly popular among investors. The facility entails the concept of profit sharing, allowing you to enjoy the profit gained from investment according to a previously determined ratio.
Diminishing Musharakah
Diminishing Musharakah is a type of personal loan and can include Housing Loans, etc. According to this concept, a financier and his client participate either in the joint ownership of a property or an equipment, or in a joint commercial enterprise.
Ijarah (Lease)
Ijarah is a product which allows the Company to purchase an item on behalf of a customer, who then leases the item from the Company over a specific period by paying a rental. The ownership of the item remains with the Company throughout the period of the lease, while the customer has the right to use the item. Upon the satisfactory payment of the contract, the ownership of the item is transferred to the customer.
Diminishing Musharakah is a specialized real estate financing product under the Islamic Guidelines. The IF Unit and the customer, under a contract of partnership, jointly acquire real estate where the ownership is explicitly shared between the two parties. The ownership of the IF Unit service provider, however, diminishes over time as the customer purchases the shareholding with each monthly payment including a rental and the equity contribution. The contract will be effective until the client fully purchases the shareholding of the IF Unit service provider and obtains a complete ownership of the real estate acquired.
Islamic Savings and Fixed Investments
Al Safa - Islamic Financial Services of the IF Unit, offers a diverse range of Shari'ahcomplia investments and deposit products throughout the branch network. All products are subject to approval of the Shari'ah Supervisory Board.
Al-Safa Mudharabah Savings
This is a savings account that works on the same principles of 'Mudharabah' and the counterpart of a regular savings account. The minimum investment required for opening an account is Rs. 1,000/- and offers a range of benefits to the customers viz
Usfoor Minor Savings
This is a unique savings account for minors, below age 18, that offeRs. an attractive return on the investment. The minimum investment required to open this account is Rs.500/- whilst the profit is calculated on a monthly basis. The parents/legal guardians are permitted to withdraw money for education and hospitalization purposes of the minor. At age 18, the account is converted to a regular Mudharabah Savings Account.
Corporate Savings Plus
This savings account embedded with special features and higher returns is targeted at mobilizing surplus funds of the corporate customers. The minimum investment
amount is Rs. 100,000/- and the minimum balance to be maintained is Rs. 5,000/-. Profits are calculated on the daily average investment balance and credited to the account on a monthly basis.
Al Safa Hajj Savings
This is a special savings deposit for individuals who wish to save for them or for their family members to perform the duty of Hajj on a future date. It is
a recurring deposit account, where the customer deposits a monthly contribution as per a pre agreed schedule. The minimum investment required for opening
an account is Rs. 5,000/- and the profit is calculated on daily investment balance
and credited into the account on a monthly basis. The customer is permitted
to pre-pay outside the agreed schedule and take on the desired journey early.
With friendly account operations, PF Super Savings offers you another pleasing way to save money. Daily balance is counted to assure you of an optimal interest rate and unhindered withdrawals.
- Interest calculation on daily basis and remittance on monthly basis (so withdrawals don't affect your interest)
- Dual purpose People's Bank VISA International Debit Card enabling cash withdrawals from any PET or VISA enabled ATM and purchases from any VISA accepting merchants
- Make deposits from any People's Bank branch
- 8.66% interest per annum
- Cash/POS withdrawals of up to LKR 100,000/- per day
- Purchases of up to LKR 150,000/- per day
- Acceptance of cheques deposits drawn in favour of your name
- Over-the-counter service in card issuing
- Interest calculation on daily basis and remittance on monthly basis (so withdrawals don't affect your interest)
- Dual purpose People's Bank VISA International Debit Card enabling cash withdrawals from any PET or VISA
enabled ATM and purchases from any VISA accepting merchants - Make deposits from any People's Bank branch
- Cash/POS withdrawals of up to LKR 100,000/- per day
- Purchases of up to LKR 150,000/- per day
- Acceptance of cheques deposits drawn in favour of your name
- Over-the-counter service in card issuing
- Additional 1% interest per annum
- Caters to your savings capabilities
- Savings period ranging from 24 months to 240 months
- Requires a fixed amount to be deposited each month
- Interest calculation on daily basis and remittance on monthly basis
- Withdrawals allowed only on maturity - either withdraw your total balance or receive it in monthly installments over 240 months
- 8.66% interest per annum
In recognition of the integral part senior citizens play in society, People's Finance strives to provide improved quality of life through greater benefits. PF Senior Citizen Savings provides all the benefits of a PF Super Savings Account, along with an additional 1% interest per annum.
The PF Dhana Surakum pension fund is an ideal long-term investment offering protection when you need it most. It offers interest rates which are well above average and guarantees safety of your money.
Senehas Savings - Minor Savings
Plant the seeds of a Senehas Savings Account for your child so they can reap the fruits of a bright future.
- Any parent/guardian can open an account on behalf of their child
- 8.66% interest per annum
- A passbook will be issued
- Exciting gifts and seasonal offers based on account balance
- At the age of 18 years, accounts will be automatically transferred to the 18+ category
- Depositors can give a free Standing Order from their normal savings account
- Fixed period (3 months to 5 years) and fixed interest rates
- Simple interest rate % per annum
- Interest payable monthly or at maturity
- Withholding tax subject to declaration
- Withdrawal prior to maturity will be subject to penalty
- Deposit holder should be a Sri Lankan Citizen or Residence visa holder over 18 years old