The Fiji Development Bank (FDB) has unveiled two new loan products designed to enhance family support and promote business growth across the nation. Finance Minister Esrom Immanuel emphasized that these initiatives, namely the FDB Choice Home Loan and the Revolving Working Capital Term Loan, aim to transform the lives of everyday Fijians by increasing access to affordable financing.
The Choice Home Loan is specifically crafted for young families, long-time FDB clients, and dedicated individuals who may not have traditional incomes but aspire to homeownership. Minister Immanuel highlighted the bank’s commitment to a Fiji where every family can build a stable foundation and every entrepreneur can fulfill their aspirations.
Notably, the loan product places a strong emphasis on inclusivity, prioritizing support for women, youth, persons with disabilities, and those living in rural areas. With interest rates starting at 3.99 percent and no internal fees during the initial six months, the Choice Home Loan also includes an unsecured renovation loan that allows rural households to upgrade their homes without needing collateral.
On the business front, the Revolving Working Capital Term Loan offers a flexible solution for enterprises to manage cash flow, replenish stock, maintain operations, and seize new opportunities. This product is particularly beneficial for transport operators, farmers, retailers, tourism businesses, and small enterprises that play a critical role in the economy.
Minister Immanuel reaffirmed that the Fiji Government, in collaboration with the FDB, will continue to ensure that development financing is directed towards those in greatest need, demonstrating a strong commitment to fostering economic resilience and growth across Fiji.
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