Westpac Fiji has announced new support measures to help
consumers and businesses impacted by the global outbreak of COVID-19. This is
in addition to the assistance that has been offered to Westpac’s business
customers since midFebruary.

“This is a once in a lifetime event and a united response by
government, regulators and corporate Fiji is exactly what we need, and what has
been put in place over the last few days,” said Westpac Fiji Chief Executive
Kip Hanna.

“We are determined to help our customers through this
uncertain situation,” he said. “In mid-February we released an assistance
package for our corporate customers, who were the first to be affected by the
escalating global situation. Now we are seeing the affect flowing through the
whole economy and hurting Fiji families – and we stand ready to help.”

Westpac Fiji’s
enhanced customer assistance package

For all customers with Westpac home or
personal loans:

  1. Interest rate reduction of 0.50% for all local currency
    variable rate home and personal loans. Note:
    Interest rate reductions will be applied automatically and customers do not
    need to contact Westpac.

  • Repayment holiday (principle & interest) of up to six
    months (with interest capitalising) for existing home or personal loan
    customers who can evidence they have been impacted through Covid-19 by:

    • the loss of employment 
    • reduced hours 
    • enforced leave without pay 
    • business closure. 

For business customers affected by
COVID-19:

  1. Interest rate reduction of 0.50% for all variable rate
    Business Overdrafts. Note: Interest rate reductions will be applied automatically, and customers do
    not need to contact Westpac. 
  2. Waiver of Business Loan Establishment Fees for
    restructuring purposes.
  3. Repayment holiday (principle & interest) on term
    loans of up to six months for existing customers (with interest capitalising)
    who can evidence they have been impacted through Covid-19 on a case by case basis. 
  4. Access to term deposit funds without having the
    interest rate reduced. 
  5. Fee free loan redraws.

            1

 All Covid-19 requests
for support will be assessed on a case by case basis and customers may be
eligible for any one or combination of the above measures.

How to access Westpac’s customer assistance:

  • Westpac home and personal loan customers, or customers
    with other enquiries, should call the COVID-19 Help Line on +679 321 7700
    (Monday to Friday; 8am – 5pm Mon-Saturday), email covid19help@westpac.com.au
    or connect with our Personal Bankers or branch staff.

  • Westpac
    Business customers should contact their Relationship Managers. 

“At this challenging time, we remain very conscious of the
important role we play, and our focus is on ensuring we continue to support our
customers while keeping them and our employees safe,” Mr Hanna said.

Westpac has put a number of precautions in place across its
branch and office network, including temperature checking, new cleaning
protocols, limiting to the number of people allowed in branches and ensuring
customers and employees practice strict social distancing.

Westpac reminds customers that EFTPOS, Instores, ATMs,
mobile banking and internet banking should be utilised wherever possible, as
precautionary measures in Westpac branches are resulting in longer wait times.
Visit www.westpac.fj for a list of Instores and ATMs.

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