The National Service Authority (NSA) has announced a new partnership with Absa Bank Ghana and the National Service Personnel Association (NASPA) to provide an overdraft facility for active National Service Personnel across the country.
According to the Authority, the initiative is intended to address delays in the monthly payment of allowances by giving service personnel immediate financial support when disbursements are delayed.
Director-General of the National Service Authority, Ruth Dela Seddoh, said the partnership was introduced in response to the concerns of service personnel who have experienced difficulties due to delays in the release of funds. She noted that the collaboration is expected to prevent personnel from facing hardship caused by the timing gap between service and allowance payments.
Under the arrangement, qualifying personnel will be able to access an overdraft of up to 85 percent of their monthly NSA allowance. The facility will come with zero interest during the delay period, no collateral requirement, and automatic repayment once the delayed allowance is paid.
The overdraft support will be available to active personnel who hold an Absa Ignition Account. The account includes zero maintenance fees, a free international debit card for online transactions, and travel insurance cover of up to GHS 100,000. Interested personnel can open the account through the NSA student online submission portal.
Absa Bank Ghana Managing Director Edward Nartey Botchway said the collaboration is aimed at reducing the financial pressure allowance delays can place on young graduates, particularly those dealing with basic living expenses.
The National Service Authority also expressed appreciation to National Service Personnel for their continued dedication and reaffirmed its commitment to improving service delivery while working with stakeholders to ensure timely allowance payments.