The Fiji Development Bank (FDB) has introduced two innovative loan products designed to enhance family welfare and stimulate business growth across the nation. Minister for Finance, Esrom Immanuel, emphasized that the FDB Choice Home Loan and the Revolving Working Capital Term Loan are pivotal in increasing access to affordable financing for everyday Fijians.
The Choice Home Loan targets young families and long-standing FDB clients, along with dedicated individuals, including those lacking traditional payslips, helping them realize their dreams of homeownership. Immanuel stated, “We gather to reaffirm our commitment to a Fiji where every family can build a secure foundation, and every entrepreneur can realize their dreams.” This initiative specifically aims to support women, youth, people with disabilities, and rural communities in their pursuit of stability and growth.
Under this new loan, FDB is offering competitive interest rates starting from 3.99 percent, with the added benefit of no internal fees for the initial six months. Additionally, a special unsecured renovation loan is available, allowing rural households to enhance their homes without the need for collateral, thereby facilitating significant improvements in living standards.
In parallel, the Revolving Working Capital Term Loan is designed to provide flexible, renewable credit for businesses, aiding them in cash flow management, restocking, and maintaining operations. This support is particularly focused on transport operators, farmers, retailers, tourism operators, and the myriad small businesses that are vital to the Fijian economy.
Immanuel reiterated the commitment of both the Fiji Government and FDB to ensure that development financing effectively reaches those who are most in need, signaling a hopeful direction for the future of many families and businesses in Fiji. The launch of these loan products represents a significant step toward fostering economic resilience and empowering communities throughout the archipelago.