This is a comprehensive guide on how to apply for National Service, NSS Direct Service Loan using the short code *396*1#.
The primary issue here is that you are not guaranteed payment at the end of the first month as a National Service Personnel. If this occurs, a loan will be required in most cases. Obtaining a loan as an NSS personnel was difficult a few years ago due to the possibility that you did not match the conditions for a loan from any bank.
Applying For Loans In Ghana
It is not shameful to apply for a loan as a National Service member; this is because, after completing tertiary education, the majority of guardians believe their role is complete, leaving you to fend for yourself.
The situation deteriorates further if you are not assigned to a location that provides free housing; in this instance, you must pay for housing and purchase items such as a mattress and other basic necessities.
You can apply for a loan ranging from GHS100 to GHS2,200 through the Direct Service Loan by NSS. This part of the loan application process is simple and can be completed using your mobile phone.
When you apply for a loan through Direct Amount Service, the loan will be disbursed to your E-zwitch card and deducted monthly by NSS. It’s worth noting that Direct Service Loans do not charge processing or collateral fees.
*396*1#: Direct Service NSS Loan Requirements
To get qualified for a loan as a National Service Personnel, you need to meet the following requirements;
- You need to be newly posted as a National Service Personnel.
- You have to be a registered and validated National Service personnel.
- You have to be someone who gets paid by NSS. That is, you have to be under the Subvented category.
Interest Rate of Direct Service *396*1# Loan for NSS
The monthly interest rate on the NSS loan of Direct Service is 6.5%. This rate is obviously not as large as what other banks or lending institutions charge.
How to Apply for NSS Loan in Ghana
- 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 that 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 a loan request.
- State the reason why you are requesting the loan. You can choose medication, personal, accommodation, etc.
- Enter the loan amount.
- Confirm your request and repayment plan.
How is the NSS Loan paid?
Loans are disbursed to National Service Personnel’s E-zwich Card following a successful application. All you need to do is visit any nearest bank and withdraw your funds.
How is the NSS Loan deducted or repaid?
The NSS loan deduction is made automatically the moment you get paid by NSS according to the deduction or repayment plan you selected and agreed with the *396*1# Direct Service.
