Flood relief loans

FINANCIAL disaster relief assistance will be offered by various financial institutions to the flood victims of Tropical Cyclone Josie, says the Consumer Council of Fiji.

The council has urged consumers to depend less on moneylenders and to make use of these relief packages and advised consumers to make wise decisions and be aware and informed of the choices that are available when seeking financial assistance during any natural disaster.

The various financial institutions include the Bank South Pacific (BSP), the Reserve Bank of Fiji (RBF) and the Home Finance Company (HFC) Bank.

According to the statement, BSP had urged their customers to contact their respective branch representatives for assistance.

The council said BSP was waiving interest for three months on the new policy loans which were granted until July 31. The bank had also waived interest on late payments of premiums until July 31 for BSP Life customers in the Western Division.

The Natural Disaster Rehabilitation Facility of the RBF is now in operation and the affected flood victim homeowners are eligible to apply for funding up to $5k at a maximum interest rate of 4.5 per cent yearly.

The HFC Bank had also announced a loan for the affected customers including additional loans under the RBF disaster rehabilitation packages.

HFC Bank had also advised its customers that those who applied for a personal loan for their emergency needs of up to $1k would be given the loan by the bank within two days once lodged.

In the statement, the council added that with the HFC Bank, the relief package was not limited to the affected customers in their respective areas, but would also apply to others who may have families or properties in the affected areas.