People’s Micro Bank Ltd

The housing advance scheme allows active members who have contributed to an authorized Superannuation Fund for more than five years to use 100 percent of their member-only contributions to assist them in purchasing or building their homes. 

The housing advance can also be used as an equity for members to acquire housing loans from recognized financial institutions.

The Head of Sales for People’s Micro Bank, Yawetau Salem, thanked Nasfund for welcoming them on board as a Housing Advance supplier.

This was revealed by Minister for National Planning and Implementation, Richard Maru, on the floor of parliament on Wednesday.

He said the Government has captured it in the 2018 budget.

The Minister was replying to questions from Finschhafen MP Reinbo Paita, who highlighted the hardships faced by the rural populace to get loans and do normal banking transactions because of the high bank fees.

“People in the villages cannot access loans because most commercial banks have unfriendly conditions,” said Paita.