New housing loan by Fiji BSP Bank with attractive Rates
Investing in Fiji real-estate has become more attractive with lower interest rates offer by BSP Bank. While, global interest rates facing high inflation has been increased , the attractive interests will certainly boost more investment in Fiji . "There is a pent up demand for apartments, housing and hotel rooms with Fiji experiencing a tourism boom post Covid", stated Arif, Director and Broker for Bayshore Real-estate Fiji .
BSP Financial Group Ltd (BSP) has introduced its new housing loan offer for its customers which features a new one-year fixed interest rate of 4.10 per cent per annum and a two-year fixed rate of 4.90 per cent per year. BSP Fiji country head Haroon Ali said they were pleased to introduce their new interest rates for home loans and residential investment properties.
“These revised rates provide opportunities for wealth creation, whether it’s for a first-home or an investment property in Fiji .
“Moreover, the construction of new homes facilitated by lower cost of borrowing will stimulate economic activities in the Fiji real estate sector,” said Mr Ali.
“As Fiji’s largest banking network with branches throughout the country, all prospecting home owners can count on our highly trained staff to support them through their loan application process.
“Each branch has a dedicated loans department and here in Suva, we have opened a Home Loan Centre on the ground floor of the BSP Suva Central Building for customers who wish to avoid queues.”
The bank shared that it will also introduce a new one year fixed rate of 4.5 per cent per annum for its personal property investment home loan to cater for property investors.
As a further benefit to housing loan customers from 1 August, 2023, BSP will introduce a new variable interest rate of 6.45 per cent p.a. for housing loans and 7.25 per cent p.a. for personal property investment loans.
