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Nasfund Contributors Savings & Loans Society announced the launch of one of its new superannuation product for its thousands of members.

The Term Deposit product as it is called will allow NCSL members who have surplus money in their accounts to invest their money for a certain period of time before they can access it. 

In addition to its many products, NCSL CEO Vari Lahui says the Term Deposit will allow members to invest a minimum of K5000 for a period of minimum 30 days up to a maximum of 5 years.

Mr Lahui said this new product adds value and provides better returns to its members.

“When you put money aside in the term deposit you get much better returns then what you will normally get in a transaction account, or an ordinary savings account. That is the plan in terms of the rationale behind launching the Term Deposit product,” Lahui said.

Mr Lahui pointed out that members who wish to apply for the new product can access the application online or visits their nearest NCSL office.

He also extended an invitation to non-NCSL members who are interested to register and be a part of this to enquire at their nearest NCSL Office for more information.   

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