THE Fiji Development Bank (FDB) unveiled two new financial products designed to support the country’s development priorities by improving access to housing finance and strengthening business continuity across key economic sectors.
In launching the Choice Home Loan and the Revolving Working Capital Term Loan Facility at the FDB head office in Suva on Thursday, Minister for Finance Esrom Immanuel said both products shared a common intention – to support Fijians in building secure homes, thriving enterprises and more resilient livelihoods.
“The dual launch is a testament to a bank that is responsive, forward-thinking and committed to development,” Mr Immanuel said.
“It reflects a deep understanding of Fiji’s social and economic landscape, which sees both households and enterprises as equally important pillars of national growth.
“FDB continues to show that development finance is not just about numbers; it is about improving lives.”
FDB board chairman Damend Gounder said the introduction of the two products – while serving two different customer groups – were both driven by one shared purpose, to provide real solutions for real needs in the market and also support Fiji’s development in practical and meaningful ways.
“Together, these products will influence not only individual customers but also the value chains and industries connected to them,” Mr Gounder said.
“We also see important possibilities in terms of long-term impact. Our role is not only to provide loans, but to create financial solutions that enable progress for individuals, communities, and sectors. The FDB Choice Home Loan and the Revolving Working Capital facility were designed with that purpose at the forefront.”
Under the Choice Home Loan, customers in rural communities can access unsecured loans from $2500 to $10,000 for a repayment term of up to three years. This facility is open to both salaried and non-salaried customers, including those with alternative consistent income sources.
No internal fees will be charged for the first six months.
Through partnership with the Reserve Bank of Fiji under its Housing Facility, loans up to $50,000 benefit from a 3.99 per cent fixed interest rate for the first five years.
For secured loans, repayment terms are up to 30 years for home purchase or construction.
The Revolving Working Capital Term Loan gives established new and existing customers the freedom to access funds when needed, repay what is used, and draw again without the delay of a full loan re-application.
This facility offers a 12-month revolving credit limit with annual review of performance and mirrors the natural rhythm of business — seasonal cycles, fluctuating revenue and changing operational needs.
