Ratio 1:2

1:2 Lending Ratio

This lending ratio is not compulsory and is accessible to members whose employers have agreed to NCSL’s terms of conditions under the Commitment Letter. The 1:2 ratio enables a member to borrow twice of the current savings balance that he/ she have saved.

To qualify for this ratio, a member must have sufficient long service leave entitlements and have been with the current employer for 3 years and more.

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

Requirements when applying

Service turnaround time for processing 1:2 application is 48 hours excluding weekends and public holidays.

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.

The 1:2 loan ratio is available for emergency and medical purposes.

Any 1:2 loans of K100,000.00 and above requires NCSL Board approval.

Before submitting your application, please check here to see if your employer is registered for 1:2 loans.

 A loan fee of K25.00 is charged for approved applications. Please note for loans of K25,000.00 and above, 0.1% fee is charged.

Loan Eligibility

A member is eligible for a loan if he/she: –

(a) Has had a continuous payroll deduction contribution for a minimum period of 3 months.

(b) Has a minimum of K200.00 in their savings account.

(c) Is honest and of good character and has had no prior conviction for fraud or theft.

(d) Has a good credit rating.

Purpose, Ratios and Terms of Loan

The Society can give loans for a wide variety of reasons such as:

PurposeMaximum RatioMaximum TermMaximum, Minimum & Additional Loans
Education or school fees1:21 yearMaximum Loan:

The loan maximum the Society may grant to a member is limited to twice their total accumulated savings at any one time taking into account any existing loans, fees, and charges that is outstanding to the member’s account.
1:21 year
1:21 year
Holiday Travel
1:21 yearMinimum Loan:

The minimum loan that may be granted to a member is K200.00. A member with a loan balance that exceeds 50% of their total General Savings Account will not be allowed any withdrawal of savings.
Motor Vehicle
& Insurance
1:21 year
Household Electrical
Items & Chattels
1:25 years
Birthday Expenses1:21 yearAdditional Loans:

Additional loans may be granted to a member;

a) If a members’ total current savings fully secures the aggregate sum of the loan required.

b) No member shall be granted more than one (1) additional loan per month. No additional loans will be granted to a member if the existing loan balance exceeds 50% of their total savings balance.
Investments1:25 years
Loan Purposes

Loan Interest Rate

The interest rate is charged at 1% per month on the unpaid balance on all existing and current loan accounts. All loans plus interest must be repaid within 1 to 60 months period.

Loan Repayments

  1. All loans must strictly adhere to the approved loan repayment schedule.
  2. Any interest rate in excess of 1% per month on the unpaid balance may be charged subject to the approval of the Registrar.


Your savings is used as security and maybe transferred to offset loan accounts.

Transfers are allowed after 3 months of obtaining the loan. Additional security shall be taken out on any particular loan if it is deemed necessary and in accordance with the NCSL Lending Guidelines.

Click here to download the SL9 Transfer of Funds Form.

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