The Fiji National Provident Fund has to date paid out $5.2m as COVID-19 home loan assistance.

Acting Chief Executive, Viliame Vodonaivalu says they have so far assisted 489 members.

The amount has been paid out to the banks as a mortgage.

Vodonaivalu says the assistance will close on September 30th.

The COVID-19 Home Loan assistance enables members to dip into their preserved accounts to help pay for their mortgage or monthly repayments.

Any member affected by the COVID-19 pandemic and qualifies for FNPF relief assistance must have an existing home loan and made arrangements for a loan repayment holiday (moratorium) by March 31st.

He adds the person must be the legal owner of the property under mortgage and the property is his/her principal place of residence (that is, it is not an investment property).

Vodonaivalu says the applicant can access 100% of the General Account (balance at the time of application) and 50% of the Preserved Account balance at the commencement date (1 April 2021).

The minimum repayment term is three months and the maximum term is twelve months.