How to apply for National Service Scheme(NSS) Loan

How to apply for National Service Scheme(NSS) Loan.

This article explains in detail how to use the short code *396*1# to apply for a National Service, NSS Loan.

The main problem here is that, as a National Service Personnel, you are not assured payment at the conclusion of the first month. In most circumstances, a loan will be necessary if this happens. A few years ago, getting a loan as an NSS personnel was challenging because you might not have met the requirements for one from a bank.

Because most guardians consider their responsibility is over after you graduate from tertiary school and are left to fend for yourself, applying for a loan as a National Service member is not embarrassing.

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If you are not placed in an area that provides free housing, the problem gets worse because you will have to pay rent and buy things like a mattress and other necessities.

It is possible to apply for a loan through NSS Direct Service Loan for amounts ranging from GHS 100 to GHS 2,200. This easy step in the loan application procedure can be completed on your phone.

When you submit an application for a loan through the Direct Amount Service, NSS will disburse the loan to your E-zwitch card and deduct it each month. It’s important to note that processing or collateral costs are not applied to direct service loans.

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About Direct Savings and Loans

Direct Savings and Loans Ltd is an indigenous second tier banking institution, licensed by the Bank of Ghana. Until 6th June, 2017, the company operated as Express Capital Microfinance Ltd which was incorporated on 19th June 2012, and in operation since July 2012. The Company’s business is to provide banking services to micro, small and medium enterprises (MSMEs), traders and market women, salaried workers and the self-employed.

3961#: Direct Service NSS Loan Requirements

To be eligible for a loan as a National Service Person, you must meet the following criteria:

You need to be newly posted as a National Service Personnel.
You have to be a registered and validated National Sevice personnel.
You have to be someone who gets paid by NSS. That is you have to be under the Subvented category.

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Interest Rate of Direct Service 3961# Loan for NSS

The direct service NSS loan has a monthly interest rate of 6.5 percent. Clearly, this rate is lower than what other banks or lending institutions charge.

Dial *396*1# on your phone.
You will be provided with two options; NSS and YEA. Choose 1 for NSS.
Enter your NSS number which will be in the form NSSGCC1234567. After entering your NSS number your personal details will be displayed on your screen, which includes; your name, date of birth NSS and E-zwitch number.
Confirm by choosing 1.
You will receive an SMS which comes with a verification code. Take note of the code and Dial the code *396*1# again.
Enter the pin and set up your own four digits pin.
Dial the code *396*1# again.
Choose request loan.
State the reason why you are requesting the loan. You can choose for medication, personal, accommodation etc.
Enter the loan amount.
Confirm your request and repayment plan.

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How is the NSS Loan paid?

Following a successful application, loans are disbursed to National Service Personnel’s E-Zwich Card. All you need to do is visit your nearest bank and withdraw your funds.

How is the NSS Loan deducted or repaid?

The NSS loan deduction is made automatically when you receive your NSS monthly allowance, based on the deduction or repayment plan you chose and agreed to with the *396*1# Direct Service.

NSS Direct Loan WhatsApp Number.

You can also request a loan using the WhatsApp line for Direct Loan Service. The WhatsApp number for Direct Loan is 0577619776.

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