People’s Leasing & Finance introduces GoldCash Card

Creating history in the gold loan segment in Asia, People’s Leasing & Finance PLC, announced the launch of the GoldCash Card, an innovative solution available to consumers starting October 1st.

“This game-changing product offers a plastic card to the value of the ‘gold loan’ which can be used anywhere in the world as a credit card,” said Chairman of People’s Leasing & Finance PLC. Pradeep Amirthanayagam.

This is also ultra-flexibility to depositors and they can also settle their loan without coming to the branch where they took the loan. In addition, when the gold appreciates the card holder also gets his balance appreciated.”

Amirthanayagam said that this unique product GoldCash Card came to life, stemming from an idea proposed by one of their own employees as part of their Chairman’s Award initiative. This reflects their commitment to nurturing product development within the organization.”

CEO, Sanjeewa Bandaranayake stated, “The GoldCash offers convenience, seamless accessibility, flexibility, and security, empowering individuals and businesses alike to manage their finances more effectively and seize new opportunities with confidence. By making gold loans and financing more accessible, we are also helping to improve financial inclusivity.”

With the digitization of loan applications and transactions, customers can apply for loans, check their balances, and make payments online via the card and mobile app, providing seamless access to funds anytime and anywhere. By eliminating the need for physical documentation and branch visits, these innovations not only enhance customer convenience but also support greener practices by reducing paper waste and promoting efficiency.

The GoldCash Card features a revolving loan facility, allowing customers to borrow, repay, and borrow again based on their financial needs, giving them complete control over their borrowings and credit limits. Flexible repayment options further enhance the product’s appeal, ensuring customers can settle their dues in a way that suits their financial circumstances.

The facility also includes automatic loan renewal if interest payments are made on time, simplifying the process and eliminating the need for periodic reapplications.

“By reducing the need to carry large amounts of cash, customers can minimize the risks associated with theft or loss. Additionally, they can easily track and manage their spending and loan repayments through People’s Leasing & Finance’s secure online banking platforms, ensuring full control over their financial activities.

This new financial tool serves as a lifeline for small business owners, housewives, retirees, individuals with irregular incomes, and other consumers, enabling them to increase their loan limits by adding more gold to their accounts.