BSP reduces various transaction and lending fees

Date: Friday September 14th, 2018

Bank South Pacific (BSP) PNG continues to reduce service charge and bank fees on a number of transaction and lending products, allowing affordable access for its customers.
BSP BRanch Staff serving customer at the the BSP Port Moresby Branch

Effective as of 14 September, 2018, over a million BSP customers will benefit significantly from various reduced service charge and bank fees on transaction and lending products.

These changes will see everyday transaction account fees for dormant accounts, Branch deposits to own accounts, Deposits at Agents, and Mobile Banking Alerts, Statement Mailing and Duplicate Statements removed.

Other transaction fee changes will include Mobile Banking- Easipay Top Ups and Bill Pays fees reduced from K1.00 and K1.50 to K0.50 respectively.

BSP has also removed  a number of loan service fees, which include BSP Housing Loan Service fee, Personal Property and Investment Loan service fees and BSP Personal loan settlement fee.

Lending Fees

Fee Description

Product Name

Current Fees

New Fees

Settlement Fee

Personal Loan

K10.00

K0.00

Loan Service Fee

Personal Property Investment Loan

K500

K0.00

Loan Service Fee

Housing Loan

K50

K0.00

BSP will continue to make banking more accessible, cheaper and safer for its customers through its products, electronic channels and extensive network of 42 branches, 44 sub-branches and agents across Papua New Guinea.