Loan amount has to be paid back in full by customers signing for relief package for principal and interest holiday - Minam

ANZ Fiji Country Head Saud Minam has made it clear that nothing is free and the loan amount has to be paid back in full at some point in time by their customers who will be signing for a six-month relief package for principal and interest holiday.

Minam says those ANZ customers who have taken loans and are affected by COVID-19 with loss of a job or reduced hours of work and want to know what interest rate they will be paying after the six month holiday period should call or email them.

He confirms ANZ is getting hundreds of applications every day and they would now have between 500 and 700 applications that are currently being processed.

Minam says every individual who will be eligible for the relief package will be properly briefed before they sign on the package.

Minam says they will decide relief packages for their customers on a case by case basis.

When asked why their affected customers are being asked to bring a number of documents and fill forms with information that were already provided to ANZ when the loan was approved, Minam said they have certain requirements that need to be fulfilled.

The ANZ Fiji Country Head says they know these are trying times, their affected customers need to get repayment holidays now but there will be some requirements