Fijivillage
NEWS SPORTS

HFC Bank urges customers to discuss options with them if they unable to meet their loan repayments

HFC Bank urges customers to discuss options with them if they unable to meet their loan repayments

By Rashika Kumar
Tuesday 06/04/2021
[Photo: HFC Bank]

HFC Bank is urging its customers to discuss other assistance options with them if they are still unable to meet their loan repayments after the repayment holiday that ended on 31st March.

Bank CEO, Rakesh Ram says any application for extension on repayment deferment will be reviewed and assessed on a case-by-case basis.

He has also highlighted the bank is continuing to assist 30% of their customers who have been affected by COVID-19 from an overall 65% initially assisted last year. He says this shows that customers are now paying repayments in full or are starting with interest payments.

Ram says of the customers currently under the bank’s assistance, 22% are individuals while 78% are businesses.

The CEO also says if they have established that the current pandemic is not linked to the client’s inability to meet the bank’s obligations, then they will apply its normal credit criteria to address and protect its risk.

He adds that any drastic action is not considered a viable option at this stage and the bank will continue to work with the customers on the best alternative option.

Stay tuned for the latest news on our radio stations

CFL radio frequencies
IN DEPTH
Coca Cola Games 2021
The Coca-Cola Games will be held from the 22nd to the 24th of this ...
2 days ago

Faith-Based Organisations told COVID-19 vaccine cannot be evil
Permanent Secretary for Health, Doctor James Fong has told religious leaders and representatives that the COVID-19 vaccine cannot be ...
13 days ago

Joshua Rahman's $31 million drug trial
Josua Aziz Rahman was allegedly found in possession of 39.5kg of cocaine in Caubati on the 14th of February in ...
20 days ago
FEATURE NEWS
digitalFiji platform and the COVID-19 vaccine registry system are back online – AG
Minister for Communications and Attorney General, Aiyaz Sayed-Khaiyum says more government online services, including the digitalFiji platform and the...
2 hours ago
LATEST NEWS
Religious liberty is a founding principle of our Fijian Constitution - Koya
Religious liberty, as recognized in the Bill of Rights is a founding principle of our Fijian Constitution and as a secular state, we as Fijians are ...
20 minutes ago

Fiji Sports Council partners with Health Ministry for COVID-19 vaccination drive
The Fiji Sports Council is working together with the Ministry of Health in becoming one of Suva’s host venues to cater the registration and ...
2 hours ago

Russia’s Sputnik V vaccine approved for use in India
A third coronavirus vaccine has been approved for use in India amid a deadly second wave of infections. BBC News reports Russia's Sputnik V has ...
4 hours ago

The pandemic has ignited generosity in the hearts of those with the means to aid those in-need – Bainimarama
Prime Minister Voreqe Bainimarama says the adversity we have endured and continue to endure has honed our appreciation for the blessings, big and ...
4 hours ago

Muslims begin a month of fasting this morning
Muslims will be beginning their month of fasting from this morning as the moon was sighted last night to indicate the beginning of the holy month of ...
4 hours ago

TOP