BSP reduces Home Loan Interest Rates

Date: 17th June 2011

BSP today announced a reduction in the first year fixed interest rates on home loans. The new rates are 5.95% per annum for personal home loans and 6.45%
for investment residential home loans. These rates are effective immediately.

"The new interest rates on our personal and investment housing loans will reinvigorate the home ownership market and improve the ability of the people of
Fiji to own homes under the prevailing economic climate," said Mr Kevin McCarthy, Country Manager BSP Fiji.

"Our processing time of 24 hours on completed applications allows customers to know about their loans quickly." Mr McCarthy added.

"Our best rates and fast processing times have seen us grow to be the market leader in the home loans sector."

BSP have been active in the banking industry since its entry into Fiji. BSP have the largest ATM network, a growing number of Point of Pay (EFTPOS) machines and was the first to introduce the SMS Banking service.

"Our focus is to provide convenience banking solutions to our customers and the new first year fixed rate on home loans will keep us competitive," said Mr
McCarthy.

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For more information, please contact:
Mr Nirdesh Singh
Head of Marketing
Mobile: 702 4899
Telephone: 321 4342
Facsimile: 321 4616
Email: nirdeshs@bsp.com.fj