Commercial Term Loan is a loan product specifically designed for partnerships/ firms/ companies/big group of companies.

The loan is available to business houses that have been in operation for at least 36 months. This will assist them to access additional funding in running the business. The purpose is strictly for additional working capital or Acquisition of Business assets, i.e., purchase of raw materials, buying new equipment etc.

Benefits of Commercial Term Loan Account holders

  • Lower interest rate.

  • 1% administration fee.

  • Faster processing time.

  • Short repayment terms.

Business is registered under IPA and maintains a company account with any PNG Bank.

Business which has a viable enterprise.

A business which has been in operation over three years

Business has been operating profitably for the last 12 months.

Type of Business is acceptable to PFL.

Located within the area of branch location.

Small enterprises, which are not viable or not have been in business for three years.

Small enterprises which have no potential for expansion.

Blacklisted customers.

  • Loan Amount

    Minimum     K 10,000.00

    Maximum    K250,000.00


    (Refer to Discretionary Powers)

  • Term

    Minimum     Two (2) Months

    Maximum    Forty-Eight (48) Months

  • Fees

    Default fees are set at 2% of instalment amount in addition to rate charged under facility.

  • Top Up Loans/Second Loan Cycle

    Top up loan is not possible but customer can be given a fresh loan upon successful assessment based on repayment ability and sufficient collateral.

  • Disbursement Method

    Cheque Payment

    Direct credit to the account of the borrower.

  • Repayment Amount

    None as interest rate is variable.

  • Repayment Method

    Repayment start date must be exactly a month after the disbursement of the loan.

    Monthly repayments shall be done through direct deposit to the following account:

    Bank of South Pacific – Douglas Street Branch

    Account Number: 1008662833

    Account Name: Papua Finance Limited

    The above account shall also be used if the small entrepreneur is willing to settle the loan early.


As a licensed financial institution, PFL is authorized to accept deposits from the public, in the form of Interest-Bearing Deposits. These deposits earned interest based on the prevailing market conditions and the term that the deposit was placed.

It is a special deposit made by client into the organization (Authorized Bank or Financial Institution) that cannot be withdrawn before a set date or for which notice of withdrawal is required.


Individuals – E.g.: RICKS WALU

Public Organization – PNG NRA

Partnership – Harro & Leo Enterprises

Corporations – Steamships

Private Organization – Southern Cross Insurance Ltd, Law firms, etc.

Churches, e.g.: SDA Mission

Land Owner Groups


Above customers should have existing active bank accounts with any banks operating in Papua New Guinea



Completed IBD Application Form.

Acceptable identifications as listed below:

Valid Passport

Valid Drivers’ License

Valid Firearms License

Employee ID or Letter of Identification (Employed persons)

Unemployed or self-employed persons without any of the above can produce identification letter from any of the following:

A recognized church leader

Senior banker

Registered Lawyer



Senior Police/ Army Officer

Any senior Public Servant of high status

Note: The letter must be authentic and that the vouching person must have known the intended depositor for at least three (3) years and must mention this fact in the letter


Registration papers.

Certificate of Incorporations/Associations.

Completed IBD Application Form.


Only the following are acceptable deposits:

Personal cheque

Bank cheque

Direct deposit to Papua Finance Bank account

Bank of South Pacific

Vision City Branch

Account No. 1008662833 or Kina Bank Ltd – 600615-02

Under no circumstances that cash will be accepted over the counter. All cheques are subject to clearing. Interest Bearing Deposit is considered void and cancelled from the date of deposit if the bank subsequently dishonors the cheque.
If the deposit is partly cheque and subsequently dishonored by the bank, the total deposit is considered void and cancelled from the date of deposit.

Why choose fixed deposit scheme for children?

Fixed deposit scheme ensures that you save up for your kid’s future with no hassles. Fixed deposits require you to invest once and that will be the end of it unlike other savings schemes which require you to make regular investments in order to save up. Fixed deposits can be opened for kids as young as one year old, thus giving the parents more time to save up for their child’s future.

Another added advantage of fixed deposit scheme for children is that the minimum amount required to be deposited is only PGK 1,000. Investing in a fixed deposit for your child will ensure that your child stays financially protected in case something unfortunate should happen to you.

It is always better to choose a long-term fixed deposit where you can collect the interest at the end of the tenure, when it comes to a fixed deposit for a child.

A fixed deposit scheme for children is almost similar to regular fixed deposit schemes. But the main characteristic of such fixed deposit scheme- it allows parents or guardians to invest in fixed deposit accounts on behalf of their children.

The liability of the fixed deposit lies on the parents or guardian until the child reaches the age of 18. They are in charge of the FD till the child reaches the age of maturity or the maturity of the deposit.

  • Fixed Deposits Account can be opened in the minor’s names by the parent/guardian
  • Minimum amount of Deposit is PGK 5,000 & Maximum is PGK 20,000
  • Minimum lock in period is 3 years to earn interest
  • Interest of 7% PA for a period of 3 to 5 years
  • Interest rate at 10% PA above 5 years
  • Doubles the amount in 120 months
  • No monthly charge
  • Withholding Tax deducted at the time of maturity
  • All other services and charges will be as per the bank’s standard tariff rates

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