NCSL offers new savings scheme

Business, Normal

The National, Wednesday October 16th, 2013

 NASFUND Contributors Savings and Loan Society (NCSL) will introduce  savings product for students.

NCSL general manager Vari Lahui told The National yesterday the idea was to promote savings culture among the youth so they developed the habit of saving at a young age.

“Most of the students from primary to secondary schools do not put aside money as savings … they usually spent all the money they received from their parents,” Lahui said.

“Under this concept, we are educating the students on savings.” 

Lahui said NCLS would promote the concept in which the students would save in a trustee-type account, where only parents would withdraw on behalf of their children for health or education purposes.