ANZ offers no specific loan for education

THE Australia and New Zealand Bank in Fiji does not have specific loan packages for customers seeking financial help for education.

ANZ marketing manager Inoke Bainimarama said the bank offered standard personal loans on an unsecured and secured basis, dependent on the customer's purpose and financial needs.

Customers who take loans up to $3000 on an unsecured basis are charged an interest rate of 15 per cent per annum with an 11 per cent interest charge per annum for secured loans of more than $3000.

"Personal loan applications received from customers specifically to fund educational expenses average around three to four applications per month," he said.

"Whilst this number is minimal, the presumption is that many customers would opt for an ANZ small loan to finance educational expenses for example payment of school fees, purchase of school books and uniforms simply because of its unsecured nature and same day access to funds.

"At ANZ, we offer a range of savings and investment products which are available for customers."

He said customers are encouraged to save in order to get them closer to meeting their saving goals like debt consolidation, new household goods or further education.

He said ANZ offers an exclusive employee package of benefits made available to employees of ANZ's top corporate clients called anzwork.

"Although standard personal loan interest rates apply under the anzwork scheme, eligible customers enjoy a 30 per cent discount on the personal loan approval fee," he said.

Lending institutions were offering their customers affected by Cyclone Mick low interest rates on rehabilitation loan packages.


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