Calcutta, Oct. 29: Peerless General Finance & Investment Company Limited (PGFICL) has launched the Peerless Life Savings Bond — a three-year fixed deposit scheme.
The scheme has a free life insurance cover up to Rs 50,000 arranged through Metlife India Insurance Company. The insurance cover for depositors would be up to 58 years of age.
Minimum deposit is Rs 10,000 or higher amounts in multiples of Rs 5,000 and the maximum deposit is Rs 50,000. The age of entry is 18 years.
PGFICL, with a customer base of four crore, recently completed 70 years of service. The deposit base of the company is around Rs 8,000 crore. Even in the backdrop of countrywide slump in the financial market, the company’s share is nearly among 70 per cent among RNBCs.
Chairman D.N. Ghosh said the company is looking for a shift from a commission-driven collection-based organisation to a product-driven marketing-based organisation.