Personal Loan 1:2

High Ratio Loan.

Access twice your total savings balance with competitive interest rates. Ideal for larger personal expenses with easy repayment options. 

Personal Loans 1:2 Ratio

This loan type is accessible to members whose employers have agreed to NCSL’s terms of conditions under a Commitment Letter. The 1:2 ratio enables a member to borrow twice the current savings balance that he/ she has but subjected to assessment by our Lending Team.

Example:  If you have K1,000.00 in your savings account, you can borrow a maximum of K2,000.00.

Before submitting your application, see if your employer is registered for 1:2 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  • Withdrawn funds are transferred to the Poro account for easy and convenient access by using your Poro Card.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.  
Features
  • K200.00 minimum loan
  • Unsecured loan
  • Maximum loan is dependent on available savings
  • Loan interest charged is 13.8% 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
  • Any interest rate in excess of 2.17% per month on the unpaid balance may be charged subject to the approval of the Bank of Papua New Guinea
  • 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 twice the amount of your savings
  • Easily accessible
  • Instant processing
  • Instant access to funds
Timeframe
  • 24 hours excluding weekends and public holidays.
Fees & charges
  • K50.00 is charged for approved applications or 1% of the loan amount
How to Apply
  • Completed application signed by member and endorsed by employer
  • 3 recent pay slips
  • Bank statement (if first time applicant or new bank account)
  • Copy of identification card (if first time applicant)
  • Irrevocable order
  • Employer confirmation letter
  • Signed Credit Data Bureau search form
  • Statement of financial position if total loan amount exceeds K10,000.00 (applicable to new and additional loans)
  • Online application available on Personal Online Services.
Frequently asked Questions
  • What is a personal 1:2 loan? 
    A personal loan product that allows NCSL members to borrow twice the current savings balance subjected to NCSL lending terms & conditions 
  • How can I apply for a personal loan 1:2? 
    You can apply for a personal 1:2 loan by completing a loan 
    application and lodging this at any of NCSL branches or 
    Apply via NCSL 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 call into any of NCSL branches to seek further information and or assistance or call NCSL call centre on 207 2000 and email callcentre@ncsl.com.pg

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