Default Banner

MPSL Products


Loan’s offered by MPSL are secured and affordable with repayments made easier. Every loan obtained from MPSL is charged at 1% per month on the reducing balance and can be comfortably repaid over a term of 1-36 months as per the member’s choice.

MPSL offers loans based on a member’s available savings and can lend from a minimum of K200.00. Per our Lending Policies, there is no maximum as this depends on a member’s savings balance.

We offer loans based on 1:1 and 1:2 basis as approved by the Bank of Papua New Guinea who is also the Registrar of Savings & Loan Societies.

Additional loans can be given to existing members at 1:1 or 1:2 ratio as long as the member has reduced his/her recent loan to 50%.

For more information, click on the following links:

General Loan

This is a compulsory lending ratio and savings is used as security. Under this loan product, a member can borrow the current savings balance that he/she have saved, or can borrow at 1:2 ratio, as long as the member is contributing for both the general savings and the loan security deposit savings.

Example: If you have K1, 000.00 in your savings account, you can borrow a maximum of K1, 000.00. However, at 1:2 ratio, is you have K1, 000 general savings, you’re eligible to apply for K2, 000 as long you have savings account of General Savings & Loan Security Deposits.

Housing Loan

Housing loan is designed to assist members who are looking to build their won houses, or are looking to purchase furniture’s and building materials to complete their house.

The ratio applied is both 1:1 and 1:2 ratios. As long as the client has surplus savings of both the General Savings (S1) and the Loan Security Deposits (S6), all members are eligible to apply.

Minimum loan amount is K300 and maximum amount is K100, 000.

Housing Equity Loan

Housing Equity Loan product is designed in partnership with the commercial banks to funds its members the equity contribution to get a housing loan with the commercial banks.

The greater challenges for Papua New Guinea has been the equity contributions to purchase a property, as such MPSL in partnership with the banks has taken this into heart and stepped in to bridge this gap so our members can finally own a property.

Main requirements to be eligible for this loan product;

  • Member of the Society with Surplus Savings
  • 1:1 & 1:2 ratio applied
  • Employed for more than 3 years
  • Completed loan application signed by member
  • 2 recent pay slips.
  • Bank statement
  • Copy of identification card
  • Signed Credit Data Bureau search form.


General Savings (S1)

This is the primary savings account that is opened when you first join the society. The account acts as a trading account to which loans can be obtained.

The minimum fortnight contribution towards this account is K20.00. A one-off membership fee of K2.00 is charged to open this account.

Withdrawals are allowed once in a month.

Christmas Savings (S3)

This is a special purpose savings account that is designed to assist members to save for the Christmas related expenses. Withdrawals are only allowed in December and January of each year. The minimum fortnightly contribution is K10.00 per fortnight, and a minimum of K20 must always remain in the account to maintain the account.

Education Savings (S4)

This is a special purpose savings account designed to assist members to save for education related expenses. The minimum fortnightly contribution if K10.00.

  • Withdrawals are allowed only for education related purposes
  • Minimum balance of K50.00 must always remain in the account.
  • Quotations from supplier(s) of stationery, goods and services or school fee invoice must be attached with each application

Loan Security Deposit (S6)

This account is designed purposely to provide collateral for loans approved on the ration of 1:2. The minimum contribution is K50.00 per fortnight. No withdrawals are allowed except those who are resigning for active employment and want to cease their membership.

Interest is calculated daily and paid monthly to this savings account.

Kids Savings (S7)

Kids Savings Account is a trustee account and membership is open to any interested child from infant to 18 years of age with their parent’s consent. This includes children whose parents are MPSL members or non-members.

Members can deposit a minimum of K1.00 per fortnight. Regular deposits are encouraged and failure to deposit within the first 3 months will result in the account being systematically locked. Locked accounts can be activated by depositing money into the Kids Savings Account

The Society pays monthly interests on your total savings balance and also pays annual interest topped up after finalization of audited financial statements

This savings cannot be used as a security to obtain loan from both the Child and the parents

Withdrawal is only required after 18 years of age.

Family Savings (S8)

Family savings is designed to attract families to save their money away for rainy days. Minimum deposit is K10.00 every fortnight. It is a good way for families to start saving for family travels, Christmas family gatherings, and can be a joint account where all parties has to sign before withdrawal is made.

Withdrawal is allowed every 2 months, and a minimum account of K20.00 must be maintained.

Coming soon

Life Insurance Cover

MPSL has introduced and expanded its current Life & Medicare with Life Insurance Corporation to MPSL Members and their families. There is a greater need of such scheme amongst the workers in the mining area, and with this product, workers are now fully insured.