First Leasing Company of India Limited introduced leasing in India during September 1973, 36 years back and additionally commenced Hire Purchase transaction in 1986 and diversified into Consumer Finance during 1988.
The total profit of First Leasing grew to Rs.70.75 Crores during the fiscal year ended on 31st March 2011. Approximately 80% of the rentals contracted are with counter parties representing Sovereign Risks, World Class Corporates and other large domestic companies whose payment track record over the last 37 year is unassailable.
The British government through the instrumentality of Commonwealth Development Corporation (CDC) took equity in the equivalent of GBP 2.5 million.
First Leasing’s operations are primarily focused on corporate financing. The major clients being CitiBank, Johnson & Johnson, Volvo, Seimens Public Communications, ABB, ANZGrindlays, IDBI Bank, TELCO, Knoll Pharmaceuticals, Bayer among many other names.
Features and Benefits of First Leasing Company of India Limited Fixed Deposit Scheme:
- Credit Rating – AA+ by CARE – means High Safety
- Minimum amount of deposit to be accepted is Rs. 5,000 and in multiple of Rs. 1,000 thereafter
- Income Tax will not be deducted upto interest Rs. 5,000 in a Financial Year
- Loan against deposit will be permitted upto 75% of the deposit amount carrying interest @ 2% above the interest payable on such deposit
- Nomination facility available
- Premature withdrawal permissible as per the statutory guidelines and at the discretion of the company
Interest Rate of First Leasing Company of India Limited Fixed Deposit Scheme:
|Scheme 1: Fixed (Non-Cumulative) Deposit Scheme (Interest Payable from Monthly to Yearly as below)|
|Period||Minimum Deposit Amount (Rs)||Rate of Interest (p.a.)|
|Monthly||Once in 2 Months||Quarterly||Half Yearly||Yearly|
|Scheme 2: Cumulative Deposit Scheme (Interest compounded monthly)|
|Period||Minimum Deposit Amount (Rs)||Maturity Amount (Rs)||Rate of Interest (p.a.)||Effective Yield (p.a.)|
For more details download form below