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Term deposit

Let your money work for you

Earn higher returns with fixed-term deposits. Choose a term that suits you and enjoy competitive interest rates with guaranteed returns on your investment. 

Features
Benefits
Fees & Rates
How to Apply
FAQs
  • Savings can be accessed once a month.  
  • Withdrawn funds are transferred to the Poro account for easy and convenient access by using your Poro Card. 
  • Minimum withdrawal amount of K200.00. 
  • K20.00 minimum fortnightly contribution. 
  • No Monthly account keeping fee is charged.

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  •  Competitive interest rates. 
  • Savings can be used as collateral to apply for loans. 
  • Instant transfer of funds into Poro Account, depending on funds availability. 
  • Free issue of Membership ID card for access to exclusive discounts from selected retail outlets.  
Features
  • K5,000 minimum balance.
  • No limits to the maximum balance.
  • Investment by the member is drawn from the Poro Account only.
  • Upon maturity, members have the option to Roll over or Close Off deposits at any NCSL branch or using MyNCSL Member Online.
  • Roll-overs are permitted to deposit additional funds for reinvestment at new nominated term and applicable rate.
  • A Break is permitted, should a member opt to withdraw their term deposit prior to maturity of the term deposit, all interest accrued and due to that term deposit will be forfeited and principal returned to member’s Poro account.
  • Before maturity of a term deposit, member will be notified via the agreed and elected communication channel.
  •  
Benefits
  • Competitive Interest Rates.
  • Investment for a long-term goal.
  • No Account fees or account charges applies.
  • Members may choose between a term of 1 month and 5 years.  
Fees & charges

Refer to Fee List for full details and these are subject to change anytime.

How to Apply

To apply for Term Deposits:  

  • You must be an existing NCSL member. 
  • You can open a Term Deposit account using MyNCSL Member Online.
  • Have a minimum of K5,000.00 available in your Poro Account. 
  • Complete the Term Deposit Form, and submit with a valid copy of your ID at any NCSL branches or email it to our Call Centre on callcentre@ncsl.com.pg
Frequently asked Questions
  • What is the minimum amount to deposit?
    The minimum opening balance is K5,000.00 
  • What is the maximum amount to deposit?
    There are no limits to the maximum balance
  • What are the terms of deposit?
    Members can choose between a term of 1 month and 5 years. On establishment of the term deposit, the initially agreed rate, term, and interest crediting options will remain unchanged until maturity
  • What is the interest rate paid?
    Rates are subject to change depending on economic environment
  • How is the interest calculated?
    Interest is calculated at the agreed fixed rate for the applicable term of member’s deposit and applied to the principle at maturity. 
  • How often is interest paid to a member’s term deposit?
    Interest is paid on monthly basis 
  • Can I use my term deposit as security to obtain MV loan?
    Yes, funds under term deposit can be used as security
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