THE Australia and New Zealand Bank Group Limited (ANZ) has offered an interest rate of 8.95 per cent per annum on car loans which came into effect yesterday.
The special car loan package comes with 100 per cent financing for brand new cars, waiving of loan approval fees with the purchase of ANZ Motor Insurance, and loan repayment terms of up to five years.
ANZ Head of Retail Banking Fiji Graham Meecham said they were delighted to offer this special interest rate for car loans, which was currently the most competitive in the market.
"With 100 per cent finance available to approved customers, you can get into your new car sooner without having to save a deposit.
"There is no better time than now to invest in your own vehicle," Mr Meecham said in a statement.
He said ANZ would also waive loan approval fees when pairing your purchase with ANZ Motor Insurance, which provided financial protection against physical damage of your vehicle.
This special offer is effective November 19 and ends on February 28 next year.
ANZ had also offered reduced rates for one-year fixed home loans and residential investment property loans at 4.5 per cent per annum.
ANZ has made it easier for existing customers and other banks' customers to make the move to ANZ by offering $1500 cash towards legal fees and waiving loan application fees on new lending of a minimum $50,000 when combined with ANZ House Insurance and an ANZ transaction account.
"With the new rate applied to an owner occupied one-year fixed loan, customers can save approximately $521 in repayments per year on a 25-year $100,000 home loan compared with the previous rate," Mr Meecham earlier said.
He said this was a great way for customers to manage their household budgets better.