What is Nambawan Super Savings & Loans?
Nambawan Super Savings and Loans Society is a newly established Savings & Loans Society under the Savings and Loans Societies (Amended) Act 1995
Why was it setup?
Nambawan Super Savings and Loans Society was established to serve the short term financial needs of the Nambawan Super Fund members
Who is eligible to join as a member of NSLS?
Membership is open to all contributing members of Nambawan Super Fund, and is voluntary. It is a voluntary savings scheme that gives you flexibility to access your savings to meet your urgent financial commitments such as bride price, school fees, funeral expensees, medical expenses and so forth.
NSLS offers three savings accounts. These accounts are:
General Savings Account
This is the primary savings accounts that is opened when you first join the Society. The savings in this account enables you to obtain loan as it provides security against loans if taken.
The minimum fortnightly contribution towards this account is K20.00. A one off membership fee of K20.00 is charged to open this account.
Education Savings Account
This is a special purpose savings account that is designed to assist you save for your education related expenses. The minimum fortnightly contribution is K10.00 per fortnight.
Christmas Savings Account
This is a special purpose savings account that is designed to assist you save for your Christmas related expenses. Withdrawals are only allowed during the end of the year. The minimum fortnightly contributions is K10.00 per fortnight.
Does NSLS offer loans?
Yes, NSLS is currently lending at 1:1 ratio as approved by the Registrar of the Savings & Laons Society. If you have K1000.00 in your savings you are allowed to borrow a maximum of K1000.00 at a rate of 1:1
Requirements for Loan Applications
- Loan Application Form
- Nambawan Super ID (NSL)