(S1) Personal Savings Account
This is a compulsory savings account designed to help members build consistent savings on time.
- Minimum Contribution: K5 per fortnight to maintain account
- Withdrawal Restriction: No withdrawals are permitted for this account, ensuring that funds accumulate and remain secure.
- Interest Rate: Members earn 2% interest annually, credited directly to the account.
(S2) On-Call Savings Account
This on-call account is a flexible and transactional savings account suitable for every day financial needs.
- Minimum Contribution: A minimum of K10.00 per fortnight is required to maintain the account.
- Withdrawal Flexibility: Funds can be accessed anytime, making it ideal for immediate financial requirements.
- Interest Rate: Members earn 1.5% interest annually, credited directly into the account.
(S3) Christmas Savings Account
This is a seasonal savings account is a tailored for holiday expanses and financial security during the festive season.
- Minimum Contribution: A minimum of K10.00 per fortnight is required.
- Withdrawal Period: Withdrawals are only allowed in November and December, ensuring that funds are available for holiday needs.
- Loan Security: The account can also be used as security for loans
- Minimum Retain Balance: Members must maintain a minimum balance of K5.00
- Interest Rate: Members earn 2% interest annually, credited directly into the account
- Loyalty Rewards: Members who save K50.00 or more every fortnight earns PX loyalty points redeeming for Air Niugini flights and other benefits.
(S4) School Fee Savings Account
This account is designed specifically for educationally related expenses, offering flexibility and targeted savings.
- Minimum Contribution: A minimum of K10.00 per fortnight is required.
- Withdrawal: Permitted for direct payment to educational institutions, ensuring funds are used as intended.
- Loan Security: The account can also be used as security for loans
- Minimum Retain Balance: Members must maintain a minimum balance of K5.00
- Interest Rate: Members earn 2.75% interest annually, credited directly into the account
(S5) Medical & Life Account
This account is a specialized account providing financial protection for medical and life insurance needs.
- Contribution: A contribution of K55.00 per fortnight is required.
- Insurance Cover: Contributions go towards medical and life insurance premiums, providing peace of mind for members and their families.
- Withdrawal Restrictions: No withdrawals are permitted, ensuring that contributions are directed towards insurance premiums.
- Loyalty Rewards: Members who save K55.00 or more every fortnight earns PX loyalty points redeeming for Air Niugini flights and other benefits.
(S6) Pikinini Savings Account
This account is designed specifically for children, allowing parents to save for their children’s future.
- Minimum Contribution: A minimum of K5.00 per fortnight is required.
- Optional Savings Account: Flexible for parents to save at their own convenience.
- Eligibility: The account is open only when the parent is a member
- Interest Rate: Members earn 1.50% interest annually, credited directly into the account
(S7) Housing Savings Account
This account is tailored for members planning to build, renovate, or purchase housing related material.
- Minimum Contribution: A minimum of K10.00 per fortnight is required.
- Withdrawal Flexible: Withdrawals are permitted but must be paid directly to suppliers for housing and building materials.
- Transaction Account: Provides flexible to manage housing-related payments.
- Minimum Retain Balance: Members must maintain at least a balance of at least K5.00.
- Interest Rate: Members earn 3.00% interest annually, credited directly into the account-the highest rates among savings account.
(S8) Travelling Savings Account
This account is perfect for members planning vacation, family trips or business travel.
- Minimum Contribution: A minimum of K10.00 per fortnight is required.
- Optional Savings Account: Offers Flexible to save at your own convenience.
- Transaction Account: Allows easy management of travel expenses.
- Minimum Retain Balance: Members must maintain at least a balance of at least K5.00
- Interest Rate: Members earn 1.5% interest annually, credited directly into the account-the highest rates among savings account.
- Loyalty Rewards: Members who save K30.00 or more every fortnight earns PX loyalty points redeeming for Air Niugini flights and other benefits.
