FAQ

• Peoples Friendly leasing
• Auto Loan
• Fast Track
• Housing Loan
• Educational Loan
• Business Loan
• Self-e-cash
• Quick Cash personal loan

• Easy payment schemes and fast and friendly service through and island-wide branch network.
• Minimum documentation with competitive interest rate, speedy door step service.
• Facilities available to all applicants regardless of year of manufacture and loan amount ascertained on income level.
• Repayment plan according to your requirement
• Comprehensive vehicle insurance scheme through People’s Insurance PLC at a special premium.

Motor Cars, Vans, Buses, Lories, Motor Jeeps, Three Wheelers, Motor Cycles, Tractors, Industry Machineries/Equipment, Agricultural Machineries/Equipment etc..

• Invoice from the person who is selling the vehicle/Equipment
• Valuation from the company approved valuer.
• Copy of CR ( for registered vehicle)
• Proof of income of applicant and guarantors, if documents are not available we would still consider a cash flow analysis derived from discussion and onsite inspection
• Copies of NICs of the applicant and the guarantors

We are committed to finalize an application within one working day subject to all required documents being submitted.

Any individual, partnership , limited liability company or joint applicant could obtain a facility subject to the assessment of the credit worthiness.

Yes. it depends on the asset type, age of the asset, marketability of the asset and creditworthiness of the applicant etc.  Please visit our website or contact hot line for more details 

Please contact your nearest branch or our customer service hotline no +94 11 2 206 300  we will assist you accordingly.

There are two ways, via our website or by contacting our hotline. The quick way to do this is via our website. There, you can refer our product details, calculate your monthly rental and can send an online request in just few clicks.

It depends on the asset type, age of the asset, marketability of the asset and credit worthiness of the applicant etc.  Please visit our website or contact hot line for more details.

Please contact our customer service hotline no +94 11 2 206 300 

You have both fixed and variable option. This depends on your income sources.

Yes, this would be decided based on your cash flow analysis.

Yes, we always encourage to pay future rental in advance . However, if you delay your monthly rentals, default fee would be added automatically.

Yes, you can. You must pay the outstanding amount in full on your contract at the time you wish to terminate.

Default payment fee would be added for the nonpayment period. Please contact your branch recovery officer directly if you have an issue paying an installment.

Company is the legal owner of the asset. Hence, Asset financed has to be insured. Our own subsidiary People’s Insurance PLC will place the comprehensive insurance or you are free to choose your own insurance who is acceptable to us.

Individual

• Any citizen of Sri Lanka or Residential Visa holder over 18 years of age, holding a valid National Identity Card (NIC) / Driving License / Valid passport.
• A person holding dual citizenship.

Corporate & Other Institutions

• Corporate and other Institutions registered in Sri Lanka (i.e. Partnership firms, Private and Public Limited Companies, Specified Associations, Societies, Trusts.

Rs.10, 000/= for maturity deposits (Interest payable at maturity)

Rs.100, 000/= for monthly deposits (Interest payable monthly)

Click below link for the present FD interest rates.

https://www.plc.lk/products/fixed-deposits-savings/fixed-deposits/

Tenor starting from 1 month to 2,3,6,12,13,15,18,24,36,48 and 60 months in duration.

At present no any WHT deductions for Fixed Deposits.

(The above criteria is subject to changes)

For individuals:

• A duly completed FD application
• Individual CDD & If joint need separately 
• Copy of NIC / Valid Passport / Valid Driving License
• If the depositor’s address differs with the NIC/DL, a utility bill or a copy of a bank statement with the current address (in the name of deposit holder) of the depositor issued within 3 months of the date of deposit.
• Certified copy of Power of Attorney (If required)
• Copy of nominee NIC (If required)
• Apart from the passport, need a copy of the residential visa permit for foreigners (the residential visa permit should be valid for over 180 days).

For Others (Partnership firms, Private and Public Limited Companies, Specified Associations, Societies, Trusts):

• Duly completed FD application
• Copy of the registration of the entity
• Corporate CDD form
• Individual CDD forms from Directors / Authorized signatories.
• Certified copies (certified by company secretary) of NIC’s of Directors / authorized signatories
• Certified copies (certified by company secretary) of the resolutions / minutes confirming decision taken to place a fixed deposit with People’s Leasing & Finance PLC.
• Certified copies (certified by company secretary)
• Other relevant documents are should be submitted as mentioned in the application form.

No.

Yes. The surviving holder can withdraw the deposit.

If the operating instruction has given as either party; he/she should close and redeposit the said deposit under his/her name by submitting the death certificate of the deceased holder and the original FD certificate.

If the operating instructions given as both party; Affidavit should be submitted in addition to the above documents.

Yes. You can nominate any person/s as you wish. If you are nominating more than one person you should indicate each person’s share. If not, we will consider on equal share basis. The full name/s of the nominees and their identification such as NIC/PP/DL should be submitted by the depositor.

If nominee is available:   Upon the submission of the following documents by the nominee, payment could be made to the nominee by an A/C payee cheque;

• Original FD certificate
• Certified copy of the death certificate of the depositor or original should be submitted.
• Identification of the Nominee
• Duly completed Affidavit by the nominee (Company format will provide) 
• Instruction letter from the nominee

If nominee not available:   Any of the family member can withdraw money by submitting the following documents;

• Certified copy of the death certificate of the depositor or original should be submitted
• Original FD Certificate
• Duly completed Affidavit (Company format will provide) 
• NIC copy of the Claim Party
• Request letter of Claim party
• Declaration from Grama Sevaka and AGA office, confirming family details
• If married, Marriage certificate of deceased client
• NIC Copies and Birth certificate copies of family members.
• No objection letters in Affidavit format from all parties involved.

As per to the instructions provided in the FD Application under operating instructions,

Either Party: Any of the deposit holder can operate

Both Party: Both parties should involve for the operation

However, to change/modify the given operating instructions, the both parties should provide a consent letter.

Yes. At the time of opening the account the original power of attorney should be submitted.

In order to prevent, identity theft, identity fraud, money laundering, and terrorist financing. The Central Bank of Sri Lanka has directed all banks and financial institutions to complete a CDD form before opening a deposit. This involves verifying customer’s identity and address by requesting documents that are accepted as relevant proof.

Yes, under Section 61 of the Finance Business Act No 42 of 2011, strict confidentiality has to be observed by all officers of the company in respect of all customer transactions unless it is required to be disclosed by a Court of law or in compliance with any other written law.

PLC will have the right to reject the deposit.

In the case of a new deposit the mandate provides provision for nomination. For all other subsequent changes, need a written confirmation from the depositor/s.

If the operating instructions given as BOTH PARTY in the application, then the both holders consent is needed. If the operating instructions given as EITHER PARTY in the application, any holder can request to change the nominee.

Yes, you will be given a certificate including deposit number, Date of deposit, Date of maturity, Value of deposit, Names of the depositor/s with their identity details, Mode of interest payment, Terms and conditions governing the deposit.

To perform any transaction, you need the original FD certificate. In such instances you could request for a duplicate certificate with the request letter from the depositor/s, duly perfected Affidavit attested by a Notary/ JP, (A specimen of an affidavit could be obtained from the company)

No. Once the deposit is placed, agreed interest will not change until the maturity of the deposit.

No. Rate will be decided by the company.

The deposit can be made to your nearest PLC Branch, by Cash, direct fund transfer to PLC designated People’s Bank A/C or Cheque / bank draft issued in favour of “People’s Leasing & Finance PLC O/A of xxxxxxxxx (deposit holders name)”

No. Addition payments could be made only at the date of Maturity. Alternatively, you could open a new fixed deposit.

Yes. You could at any given time. However, you could obtain a Self-e-cash Loan without withdrawing your deposit.

Customers who are 60 years of age or above are eligible to obtain a PLC Senior Citizens fixed deposit.

No, at the time of opening the deposit all joint holders must complete the age of 60 Years.

At the time of maturity of the deposit, automatically deposit will be converted for a senior citizen deposit.

• Loan facilities against the deposit.
• Letters of guarantee (Bank Guarantees)
• PLC Online Facility

Yes, interest can be paid monthly or at maturity.

As per the instruction given by the depositor/s in the FD application, the interest payment can be arranged to the account designated by the deposit holder/s (E.g. PLC Savings account or other bank accounts)

As per the instruction given by the depositor/s in the FD application, the interest payment can be arranged to the account designated by the deposit holder/s (E.g. PLC Savings account or other bank accounts) or by A/C payee cheque or by Cash.

Yes, with the instructions of deposit holder/s the interest can be paid either to one of the joint holders or to a third party with a written consent of the deposit holders.

An automated SMS is sent 3 days in advance of the maturity date.

In case of change the deposit period / for part withdrawal / for additional deposit, prior notice required or you may visit the nearest PLC branch on the date of maturity of the deposit with the FD certificate.If not system will be automatically renewed the deposit for the same period with the prevailing FD rates.

On a monthly interest payment fixed Deposit, the capital will be renewed automatically with the prevailing interest rate for the same period. And, if it is a maturity deposit the capital will be renewed with the accrued interest / without accrued interest (as per to the instructions provided in the FD application) and will be renewed for the equal period at the prevailing rate.

You have to surrender the original FD certificate duly discharged with the payment instructions. Refund could be by way of either Cash / Cheque / Remitting to a bank account of the deposit holder/s.

No. However, in a case of a withdrawal by cash (over 1 million), it is advisable to give one day notice, as there are limited cash float in the cash counters.

Yes. The same procedure is applicable as for a full premature withdrawal. However, the balance deposit amount will be renewed on the date of withdrawal with prevailing rates.

Yes. You are eligible to apply for a loan against your deposit. Please refer below FAQ – Self-e-cash in page 6 for more information.

This is a temporary loan against the deposit that customers able to pledge their fixed deposit/s and obtain loans when they desire.

No notice is necessary.

Ranging from 75% to 90% of the capital value according to the category of the deposit.

Additional 3% for the contracted rate of interest will be charged. The rate of interest may change at the discretion of the company. Further, interest for the self-e-cash loan will be calculated in daily basis.

• Original FD certificate
• Completion of self-e-cash mandate including CDD form.
• Submit filled and signed Terms and Conditions.
• Submit a copy of valid NIC and in the absence of the NIC, Driving License / passport which carries the NIC number.
• Submit documentary evidence for address verification, if the residential address differs from NIC or DL.
• Verification of Nominee (If required)

Yes. Until the Maturity of the Deposit takes place the loan can be repaid. Thereafter, as you wish the loan balance could be carried forward subject to renewal of the deposit.

However, for monthly deposits (interest payable at monthly), system will automatically deducted the accrued loan interest amount at the time of generating the monthly interest of the deposit, and balance will be credited to the customer’s account.

No. Initially you should visit the nearest PLC branch to open the Self-e-cash account. But, later you can do transfers through PLC online.

• A competitive higher interest rate.
• Can access your account from any of our island wide network of branches.
• Can access your account from any People’s Bank ATM or any other bank ATMs.
• Free standing order facility.
• Free PLC online facility
• Provide a savings pass book.
• Contactless ATM card
• QR facility for Merchants

You can withdraw the money from any of the PLC Branch counters during office working hours or from People’s Bank or any other bank ATM’s up to a maximum of Rs.100,000/= per day, 24×7.

In addition, can do online fund transfers through PLC Online up to 1 million, or for over 1 million transactions can be done by submit a request letter to the nearest PLC branch.

Yes. Will be charged,

Rs.3/= (per transaction) – from the People’s Bank ATMs

Rs. 30/= (Per transaction) – from other Bank ATMs.

(These chargers are subject to changes).

LKR 300/- 

Annual fee of Rs.200/=

Yes, our branch network is linked which means, if you deposit money from Colombo you could withdraw your money from any PLC Branch.

You can make deposits at any branch counter by cash or cheques. If deposited by a cheque, the cheque should be drawn in favour of “People’s Leasing & Finance PLC O/A of Account holder’s name or account number”. In addition, up to 5 million, could transfer online (CEFT transfers) from another bank account.

Yes. For Normal / Senior Citizen savings account Rs.1, 000/= to be maintained.

Yes. Fee of Rs.25/= will be charged from inactive accounts with a balance of Rs.1, 000/= or less than Rs.1, 000/= (The account will be automatically closed through the system when the balance reaches zero).

You may submit a written request letter with the original savings passbook, National Identity Card (NIC) to the nearest PLC branch for the withdrawal. However, to withdraw by cash you should go to the branch that account opened or can submit the said documents to any PLC branch and obtain an A/C payee cheque.

To perform any transaction, you need the original savings passbook. In such instances you could request for a duplicate passbook with the request letter from the depositor/s, duly perfected Affidavit attested by a Notary/ JP, (A specimen of an affidavit could be obtained from the company)

If the owner of a savings account has not transacted with the Company for a period of ONE year the account will be classified as an inactive account. Reactivation shall be done on customer’s request.

If the owner of a savings account has not transacted with the Company in relation to that particular account for a period of TEN years, the account shall be classified as a dormant account. Reactivation shall be done on customer’s request.

Any citizen of Sri Lanka or Residential Visa holder below 18 years of age.

“PLC Senehasa” Minor Savings Account can be opened by a parent or a Legal guardian of a child below the age of 18 year, following are the pre requests

• Account could be open with a minimum deposit of Rs.250/=
• Child’s original Birth Certificate.
• Original NIC / valid PP / DL which includes the NIC number of the Parent / Legal Guardian. 

No. For Minor Savings accounts, minimum balance is not required.

The Minor holder can submit his/her NIC and minor savings passbook with his/her consent letter in order to close the minor account and could open a Super savings account accordingly. Or could withdraw the money by cash / cheque.

No. However in the following special circumstances withdrawals are allowed.

• If there is a necessity for the Childs benefit such as education and medical expenses, a written request with proof of documents which satisfies the company will have to be submitted.

• The balance in a minor’s account may be transferred upon written instructions of the parent / guardian of the minor, for a account maintained in the name of the minor in another bank / financial institution, upon completion of 5 years (sixty months) from the date of the first deposit or any time thereafter. The transfer should be effected by a cheque drawn in favour of the minor and crossed “account payee only”

In such instances Parent / Guardian could request for a duplicate savings passbook with the request letter, duly perfected Affidavit attested by a Notary/ JP, (A specimen of an affidavit could be obtained from the company)

No.

This is a product designed for a customer to set aside a fixed amount of savings every month (“fixed monthly instalment”) to achieve a target amount at the end of an agreed period ranging from a minimum of 2 years and a maximum of 5 years (“target period”).

• A citizen of Sri Lanka above 18 years of age holding a valid National Identity Card (NIC) / valid Passport or Driving License.
• A person holding dual citizenship.

For a minimum of 2 years period and maximum of 5 years of period.

Can start with a minimum of Rs.1, 000/=

Yes. As your wish you can deposit an initial amount. However it is not mandatory.

You can pay over the counter from any PLC branch / Via Standing Orders / E-Banking or CEFT transfers.

If the monthly investment amount is not deposited for a period of Three (03) consecutive months, the interest rate of PLC Premier Reward Plan will be converted to Regular Savings Account rate.

Yes, you will be given a certificate including reference number, Date of deposit, Date of maturity, Maturity value of the plan, Names of the depositor with identity details, Terms and conditions governing the deposit.

You can check your Premier Reward Plan through PLC Online App. Or by contacting any PLC branch.

No. The prevailing Super savings interest rate will be applied for premature withdrawals.

In such instances you could request for a duplicate certificate with the request letter from the depositor/s, duly perfected Affidavit attested by a Notary/ JP, (A specimen of an affidavit could be obtained from the company)

Simply follow this link https://online.plc.lk/ to register online.

• Latest Mobile Number registered with PLC
• Active Savings Accounts / Fixed Deposit / Lease / Loan

No.

You can do this online using the “Forgot Password” option on the login page. Or please call the call centre on +94 11 2 206 300 to obtain a new password.

• View account balances of your Savings and Deposits.
• Review transaction information of Savings and Deposit.
• View Self-e-cash loan transactions.
• Transfer funds between your PLC accounts and with the other banks.
• Can pay utility bill payments
• Payments for your PLC Loan / Lease facilities.
• You can easily maintain the billers and third party payee details which you would use for future transaction purposes. This way you do not have to keep entering these details again and again.
• Mobile reload payments
• Check savings and deposit rates
• Download savings and deposit applications
• Grant and obtain loan from self-e cash account.

You can carry out fund transfers within your own accounts, any other PLC accounts & other bank accounts using “Fund transfer” option in the main menu.

Yes. You can grant self-e-cash loan using “self-e-cash” option in the main menu. Further, fund transfers can be done as mentioned in the above point 10.

Follow this link https://online.plc.lk/UtilityPaymentAddPayeeServlet?method=payeeList or you may click “Add payee list” under Pay bills.

• Transactions between PLC accounts will be done immediately
• Fund transfers for any other bank accounts transfers will be done immediately (CEFT)
• Bill payments – Telecommunication billers: payment will get updated immediately
• Utility billers will be processed within 3 working days.
• PLC Leasing / Loan payments /self-e-cash will be effected by end of day.

Once you have confirmed your transfer, PLC Online will provide you with an electronic receipt that includes all the essential details and the e-receipt will be emailed to your registered email address with the bank. Further, SMS will be sent to your registered mobile number.

The Reference Number and the date can be used if you need to make enquiries about this transfer at a future date.

You will not be able to stop or cancel payments made “immediately” (As an exception customers may call the contact centre for further assistance on reversals)

You will be able to view and access transactions from the date of account opened.

Yes you can by choosing “change your password” and then you can change the password to one you prefer. Nevertheles you cannot change the user ID.

You should add the new facilities by yourself, using the “add facilities” option in the main menu.

Yes. You can remove any facility you have added by using the “remove facilities” option in the main menu.