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November 20, 2012 12:00:00 AM
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ANZ  has announced a reduced interest rate on car loans of 8.95 per cent per annum.

The Special Car Loan package comes with 100 per cent financing for brand new cars, waiving of loan approval fees with the purchase of ANZ Motor Insurance, and loan repayment terms of up to five years.

ANZ Head of Retail Banking Fiji Graham Meecham said they are delighted to offer this special interest rate for car loans, which is currently the most competitive in the market.

“With 100% finance available to approved customers, you can get into your new car sooner without having to save a deposit. There is no better time than now to invest in your own vehicle.”

ANZ will also waive loan approval fees when pairing the customer's purchase with ANZ Motor Insurance, which provides financial protection against physical damage to the vehicle.

This special offer is effective 19 November and ends on 28 February 2013.

ANZ is also offering reduced rates for one-year fixed Home Loans and Residential Investment Property Loans at 4.5 per cent per annum.

The bank has made it easier for existing customers and other banks’ customers to make the move to ANZ by offering $1,500 cash towards legal fees and waiving loan application fees on new lending of a minimum $50,000 when combined with ANZ House Insurance and an ANZ transaction account.

The enterance of Bred Bank into Fiji's financial sector has increased competition among banks with the major players in the industry introducing new rates and packages for their current and potential customers.

By Reginald Chandar

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