Bank of the South Pacific relaunched its home-buyer promotion, which came into effect on February 1st, saying it aims to assist prospecting house buyers facing the challenges of current property market prices.
BSP acting Country Manager, Ravindra Singh said they encourage locals to weigh up the choice of renting verses owning a own.
The promotion’s home loan rates are 3.95%p.a fixed for 6months, 4.5%p.a fixed for 12months and a variable interest rate of 6.25% p.a, with this offer is valid for a limited timeframe.
The bank states that additional customer benefits include a free fixed rate roll over that enables customers to switch from a 6-month to 12- month fixed rate, free of charge, giving them a $300 save. Other benefits include a $250 discount on legal fees and 50 per cent discount on establishment fees.
BSP Acting Country Manager Mr Ravindra Singh confirmed that these great rates are aimed at incentivising everyone to purchase their own home.
“We encourage all Fijians to weigh up the choice of renting verses owning a home."
“We are committed to helping Fijians with growing their wealth,” Ravindra-Singh added, noting that the rates were aimed at incentivizing everyone to purchase their own homes.
“Property ownership is a major step in improving your net worth and it offers our valued customers a real option for security.
“Whether refinancing a home loan from another bank, buying vacant land, constructing a new home or purchasing an existing property, this package will surely benefit them,” Mr Singh added.
“To apply for a BSP EasyHome Loan, applicants must present a recent payslip and an employment confirmation letter to assess their housing loan eligibility after which our highly trained mortgage specialists will assist them through the process of acquiring their new property.”
With over 70 service outlets and 110 ATMs, 1,800 EFToS terminals and 150 insurance advisors, the bank has Fiji’s widest network of customer touch points.
In mid-January, the bank also noted that they would assist those who opted to save money as part of their New Year’s resolution, via term deposits.
Ravindra Singh highlighted the effectiveness of term deposits as the ideal tool to help people keep their New Year's resolution to save or grow wealth.
"Often we have witnessed people break their resolutions so early in the year by succumbing to other priorities. A Term Deposit enables them to lock away these hard earned funds and ensure that they get back a guaranteed rate of return with our great rates.”
He said that as a bank with products inspired by local staff, BSP has a wide range of savings accounts to suit any type of genuine saver.
"From the long term saver to the progressive saver, we have great rates to suit financial New Year's resolution.”
He added that BSP’s other savings accounts include the BSP EasySaver, ClassicSaver or MoneyZONE accounts that reward customers with interest returns based on their level of savings maintained in their accounts.
"Customers appreciate that we don't restrict these lucrative deals to customers with salaries directed to BSP. As long as they invest in themselves by depositing funds into these BSP accounts, we are happy to offer them these returns," he said.
The bank has over 250,000 customers around Fiji.