savings

Growing our future better.

S1 - Primary Savings

This is our standard and compulsory savings account for new members and provides loan security against any loan undertaken.

  • Minimum payroll deduction to account K20.
  • Approved Loan ratio 1:1 or 1:2.
  • Schedule term repayment interest rate of 1% per month for 36 months.
  • 2% interest payment on savings balance annually.
K20.00

minimum deposit/fortnight

K200

minimum withdrawal per month
with account retaining K50.00

2% interest

interest on savings balance annually

S2 - School Fee Savings

This is an optional savings account can also be taken as a collateral to take out school fees.

  • Minimum payroll deduction to account K20.
  • Approved Loan ratio 1:2.
  • Loan availability is strictly in January, February and March.
  • K200 minimum withdrawal per month with account retain balance of K50.00.
  • Loan availability is strictly in January, February and March.
  • 2% interest payment on savings balance annually.
K20.00

minimum deposit/fortnight

K200

minimum withdrawal per month
with account retaining K50.00

2% interest

on savings balance annually

S3 - Christmas Savings

This is a seasonal savings account for the festive season in November and December.

  • Minimum payroll deduction to account K20.
  • K200 minimum withdrawal per month with account retain balance of K50.00.
  • 2.5% interest payment on savings balance annually.
K20.00

minimum deposit/fortnight

K200

minimum withdrawal per month
with account retaining K50.00

2.5% interest

on savings balance annually

S4 - Equity Savings

This savings account is for financing 20% equity for a housing loan, vehicle or plant machinery loan with financier (commercial bank or finance company).

  • Minimum payroll deduction to account K50.
  • K200 minimum withdrawal per month with account retain balance of K50.00.
K50.00

minimum deposit/fortnight

K200

minimum withdrawal per month
with account retaining K50.00

S5 - Child Saver Savings

This optional savings account is for children's future needs such as birthday, stationeries, uniforms and other associated costs.

  • Minimum payroll deduction to account K20.
  • K200 minimum withdrawal per month with account retain balance of K50.00.
  • 3% interest payment on savings balance annually.
K20.00

minimum deposit/fortnight

K200

minimum withdrawal per month
with account retaining K50.00

3% interest

on savings balance annually

S6 - Medicare Savings

This optional account is purposely for medical expenses and future life support only

  • Minimum payroll deduction to account K20.
  • K200 minimum withdrawal is allowed, strictly for medical or healthcare needs with account retaining a balance of K50.00.
  • 3% interest payment on savings balance annually.
K20.00

minimum deposit/fortnight

K200

minimum withdrawal per month
with account retaining K50.00

3% interest

on savings balance annually

S7 - Retirement Savings

This savings account is purposely for retirement benefit of the member after retiring from formal employment.

  • Minimum payroll deduction to account K20.
  • Strictly no withdrawals at any time. Withdrawals only available after six months of unemployment.
  • Annual dividend interest payment on savings balance
K20.00

minimum deposit/fortnight

2%

interest payment on savings balance per annum

Interested in Membership?

Become a member and start saving and growing your future better.

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  • Instant Approval *
  • Instant Cash Access *
Download Membership Form
* Strict conditions apply

Unit 2E, Level 2, Times Square, Wards Strip, Waigani, National Capital District, Papua New Guinea

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