Personal Loan 1: 5

High Ratio Loan

Secure up to five times your savings balance for major personal commitments. Flexible repayment terms and fast approvals to support your financial goals. 

Personal loan 1:5

This loan type is accessible to members whose employers have agreed to NCSL’s terms of conditions under a Commitment Letter. The 1:5 ratio enables a member to borrow 5 times the current savings balance that he/ she has but is subjected to assessment by our Lending Team.

Before submitting your application check to see if your employer is registered for 1:5 loans.

  • 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  • Withdrawn funds are transferred to the Poro account for easy and convenient access by using your Poro Card.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.  
  • K1,000.00 minimum loan
  • Available to members who have a gross annual salary of K25,000 per annum unsecured loan
  • Maximum loan is dependent on available savings
  • Loan interest charged is 16% per annum
  • Minimum loan repayment term is 1 month
  • Maximum loan repayment terms is 60 months or 5 years
  • All loans must strictly adhere to the approved loan repayment schedule and through payroll deduction
  • The security against this lending is a written undertaking produced by a member’s employer to pay to NCSL the member’s “long service leave” or “severance entitlements” in the event that the member leaves employment or is not able to repay the loan
  • Your savings is used as security and any transfer from savings to loan is subject to approval by NCSL Lending
  • Online application available on Personal Online Services.
Benefits
  • Borrowing 5 times the amount of your savings
  • Easily accessible
  • Short processing timeframe
  • Instant access to funds
Fees & charges
  • 2 business working days excluding weekends and public holidays
How to Apply
  • K150.00 is charged for approved applications
More Information
  • Fully completed application form
  • Provide 3 most recent pay slips
  • Confirmation letter of employment
  • Proof of ownership of personal asset for security
  • Provide a minimum of 12 months bank statement (first time borrower and, or if loans exceeds K10,000.00)
  • Statement of Financial Position if total loan exceeds K10,000.00

    NCSL encourages members to submit online applications. Approved loans are deposited into the member’s Poro Account for accessing using Poro Card. If you do not have a Poro Card, inquire with our Call Centre on 207 2000.

Frequently asked Questions
  • What is a personal 1:5 loan?A personal loan product that allows members to borrow 5 times the current savings balance. This is subjected to NCSL Lending terms and conditions
  • What is the interest rate?NCSL personal 1:5 loan interest is 16% per annum
  • How can I apply for a personal loan 1:5?You can apply for a personal 1:5 loan by completing a loanapplication and lodging this at any NCSL branch near you orapply using any of the available digital services such as Personal Online Services or Mobile USSD Services
  • What is the turnaround time?Loan is processed instantly, and once approval is given by NCSL, funds are credited to your Poro Account
  • Where can I go to get more information?You can visit a NCSL branch near you or contact our Call Centre on 207 2000 or email callcentre@ncsl.com.pg

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