BSP Fiji assisting more than 5,000 customers impacted by COVID-19

Bank South Pacific Fiji says it has been assisting more than 5,000 customers impacted by COVID-19 with its relief packages.

When asked if BSP Fiji was taking any recovery action against its customers, BSP Fiji Country Head Haroon Ali says none of their affected customers are in default as they are all enjoying the relief packages, therefore the issue of the bank taking recovery action does not arise at all.

In March, BSP Fiji announced that to assist customers impacted by COVID-19, they will be providing relief packages on a case by case basis.

BSP Fiji says for personal loans, there will be six months' principal and interest holiday.

For car loans, there will be six months principal and interest holiday. There will be a repayment holiday of up to 6 months on credit cards and six months principal and interest holiday on home loans.

It says the maturity term will be extended by a commensurate term of the suspended repayment period.

BSP Fiji says for business customers, there will be principal and interest holidays for up to six months.