FDB launches home loan with 30-year repayment option

Fiji Development Bank’s (FDB) new housing loan offers repayment terms up to thirty years, targeting young families and first-time homeowners struggling with rental costs.

FDB chief executive officer Filimone Waqabaca said the extended repayment period makes monthly installments comparable to rental payments many Fijians already make.

“We have examples of those that are paying rental every month, ranging from $300 to $500 to $1,000 a month,” Mr Waqabaca said during yesterday’s launch.

“We try and work in reverse and provide a housing product where with the same amount that they pay for their rent, it goes towards a housing loan.”

The FDB Choice Home Loan, launched by Finance Minister Esrom Immanuel, offers two categories — unsecured loans from $2,500 to $10,000, and secured loans up to $500,000.

Interest rates start at 3.99 per cent for those earning $50,000 or below annually, through partnership with the Reserve Bank of Fiji.

Those earning above this threshold qualify for a six per cent variable rate.

Mr Waqabaca said the product specifically targets university graduates entering their first jobs.

“We want to make this housing loan product affordable for people, for example, those that are coming out of university and having their first jobs,” he said.

The facility is open to both salaried and non-salaried customers.

For non-salaried clients such as market vendors, bank statements showing consistent savings can serve as income evidence.

Minister Immanuel said the loan represents a fundamental commitment to inclusive development.

“We envision a Fiji where owning a home is not a distant dream, but an achievable reality,” Mr Immanuel said.

Applications open from January 2, 2026.

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