52% of HFC business loan customers seek assistance for repayment

52% of HFC business loan customers seek assistance for repayment

By Rashika Kumar
Wednesday 06/05/2020

HFC Bank says they have assessed and supported about 300 customers who are affected by financial difficulty and hardship due to the impact of COVID-19.

The bank says 52% of these customers have taken business loans, 35% had taken out housing loans while 13% of the customers had taken out personal loans.

They had earlier said that support will be provided to all customers who have been directly impacted by the global economic downturn, loss in revenue or have suffered financial constraints.

The bank says this mainly relates to Corporate, Commercial and the Small Medium Enterprise Sector and the hardship assistance can also be extended to affected personal customers who may be suffering from salary cuts, reduced hours or financial difficulties and support to the personal consumers will also be aligned to the Consumer Credit Act.

HFC Bank says customers affected through COVID-19 will be assessed and assisted, depending on their circumstances.

The bank also says they can provide assistance by giving their customers a loan repayment break or repayment holiday, restructure of loans (renegotiate terms & conditions including term extension, interest-only concessions and debt consolidation), short term funding or top-up loans for business continuity and support and they will also be enabling customers to access any government or RBF initiative stimulus package.

HFC Bank is also encouraging customers to use digital banking platforms and e-channels and avoid visiting the branch unless it is necessary.

FEATURE NEWS
Singapore 7s: Fiji to play Argentina at 6.56 tonight in second semi final
The Fiji Airways Men’s National 7s side will meet Argentina in the HSBC Singapore 7s second cup semi final at 6.56 tonight. This is after they th...
3 hours ago
LATEST NEWS
FNPF Launches new Vinaka Campaign to show gratitude for its members
Vinaka campaign an initiative launched by the Fiji National Provident Fund was launched to show gratitude to all its members who through their hard ...
10 hours ago

97 students graduate from Pacific Polytech
It is the start of a new journey for 97 students as they graduated from Pacific Polytech in Labasa yesterday afternoon. While speaking during the ...
10 hours ago

FTUC accuses FCEF of bad faith over Employment Relations Bill delays and opposition to amendments
The Fiji Trade Union Congress has criticised the Fiji Commerce and Employers Federation for its repeated delays and shifting stance on the Employment ...
10 hours ago

Fatiaki and Prof. Narsey don’t recommend ethnic-based voting
As people have a chance to give their opinions on the country’s electoral laws, the Fiji Law Reform Commission Chair and former Chief Justice, ...
11 hours ago

Maikeli Radua laid to rest at his village in Waikete, Tailevu
The late iconic VitiFM personality, Maikeli Radua has finally been laid to rest in his village of Waikete, Tailevu today. Radua’s final journey ...
14 hours ago



fijivillage Straight Talk with Vijay Narayan
Latest Videos

Stay tuned for the latest news on our radio stations

CFL radio frequencies
IN DEPTH
Swire Shipping Fijian Drua Coach, Glen Jackson appear on fijivillage Straight Talk With Vijay Narayan
Swire Shipping Fijian Drua Coach, Glen Jackson appeared on fijivillage Straight Talk With Vijay Narayan from the Drua base in Nadi. Coming off ...
3 days ago

Reverend Tugi on fijivillage Straight Talk With Vijay Narayan
Watch the General Secretary of Fiji Evangelical Fellowship, Reverend Simione Tugi on fijivillage Straight Talk With Vijay ...
38 days ago

fijivillage Straight Talk with Vijay Narayan and William Parkinson
Chairman of Communications Fiji Limited, parent company of FM96, LegendFM, VitiFM, Navtarang, Radio Sargam, fijivillage and PNGFM, William Parkinson ...
39 days ago

TOP