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

S8 - Kids Smart Savings

This type of savings account is designed for kids under the age of 18. The account is opened and managed by parents or guardians on behalf of the child.

  • Low entry point (e.g. PGK 2 or more).
  • Competitive savings rate of 6%, calculated on daily balance and credited annually.
  • No maintenance fees to encourage saving.
  • A bonus interest is paid when the Society declares profit for the financial year
  • Automatically converts to a General Savings Account at maturity.
K2.00 or more

minimum deposit/fortnight

6% interest

on daily savings balance,
credited annually

Interested in Membership?

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

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