Nambawan Savings and Loans Society (NSLS) has created two new products aimed at encouraging more Papua New Guineans to own a house and save for tertiary education.
The products launched on Friday are the “Housing Saver” and “Tertiary Education Saver”.
The Housing Saver is a special purpose savings account designed to encourage members to save to cater for their minimum bank financing equity requirement or where they have land and require finance to build on.
The minimum fortnightly contribution is K300.
Members who save under this saver account, will only access the funds after 36 months or three (3) years.
The Tertiary Education Saver on the other hand is designed to meet financial needs of existing and potential members that wish to save for themselves or their families tertiary expenses.
The minimum fortnightly contribution is K100.
The funds are accessible after two years.
Both products will see a 5% annual interest on savings.
Members who wish to utilize these two new accounts to save can visit any NSLS branch or Nambawan Super branches nationwide.
NSLS CEO John Solok said with the tagline “Savim Moni, Stretim Sindaun”, their products and services focuses on contributing to the improvement of their members and their immediate families quality of life.
“We are trying to encourage more young people to join savings and loans.
“Such products we’re launching is really geared towards young people to make their life easier,” Solok said.
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