The Fiji National Provident Fund has commenced the COVID-19 Response Home Loan Assistance specifically for members affected by the pandemic.

Members can now access their FNPF savings – inclusive of 50% of their Preserved Account – for monthly home loan repayments for a minimum of three months to a maximum of 12 months.

Applicants must have an existing home loan and arrangements for a loan repayment holiday.

Members must be the legal owner of the property under mortgage, and be living on that property.

FNPF Acting Chief Executive Viliame Vodonaivalu said the Fund has identified 809 members who qualify for this assistance.

He adds that they have been working with the banks in terms of the application process as well as ensuring system readiness.

The Preserved Account, which equates to 70% of members total balance is preserved for retirement and can only be accessed by members who are buying or building their first home.

FNPF will place a charge for those accessing their Preserved Account for the second time if they withdraw in excess of $9,000 from the same account.

The assistance is open until 30th June 2021 and applications will have to be lodged with the members’ banks.

FNPF members who wish to apply must visit their banks or lenders with a copy of their FNPF eligibility statement specific to this assistance and can be collected from today.

Processing will take between 8 to 30 working days.