Colonial National Bank Interest Rates (Updated 1.5.07)

Schedule of interest rates released by Colonial National Bank are as follows :

• Business Banking Base Rate - 11.95%;
• Residential Property Loan : Variable Rate - 12.25%, 1 Year Fixed Rate - 10.40%, 1.5 Years Fixed Interest Rate - 11.00%;
• Investment Loan : Variable Rate - 12.25%, 1 Year Fixed Rate - 10.40%, 1.5 Years Fixed Interest Rate - 11.00%;
• Retail Term Deposits : 9 months - 4.75%, 1 year - 5.00%, 1.5 Years - 4.00%, 2 Years - 4.50%, 3 Years - 4.50%.

Interest rates are on a per annum basis and may be varied by the bank without prior notice.

Westpac Interest Rates (Updated 1.5.07)

Schedule of interest rates released by Westpac Fiji are as follows :

• Business Lending Rate - 11.99%;
• Residential Property Loan : Variable Rate - 11.75%;
• Investment Loan : Variable Rate - 11.75%;
• Retail Term Deposits : 6 to less than 9 months - 4.25%, 9 months to less than 1 year - 4.25%, 1 year to less than 1.5 Years - 4.25%, 1.5 years to less than 2 Years - 4.25%, 2 years to less than 3 Years - 4.25%.

Interest rates are on a per annum basis and may be varied by the bank without prior notice.

Connect Internet : More Downloads at the Same Price

Connect Fiji has announced its new rates with take immediate effect from today, Tuesday, 1 May 2007. The promotion sees an increase (doubling up) of data download caps with 6 months of free local calls on weekends. The rates are as follows :

• 128Kbps speed, monthly rate of F$39.50, previous data cap 750Mb, new data cap 1500Mb;
• 256Kbps speed, monthly rate of F$89.50, previous data cap 1000Mb, new data cap 2000Mb;
• 256Kbps speed, monthly rate of F$125.00, previous data cap 2000Mb, new data cap 4000Mb;
• 256Kbps speed, monthly rate of F$199.00, previous data cap 3000Mb, new data cap 6000Mb;
• 512Kbps speed, monthly rate of F$299.00, previous data cap 5000Mb, new data cap 10000Mb;
• 1024Kbps speed, monthly rate of F$39.50, previous data cap 8000Mb, new data cap 16000Mb.

The promotion applies both to new and existing customers. An installation fee of F$99.00 applies for new customers.

For more details, pls visit Connect Fiji's website on www.connect.com.fj or call their toll free number on 0800 3316677.

Note : Compare with Kidanet Fiji's rates which were posted on this blog earlier.

Bank Deposit Interest Rates fall further

ANZ Fiji's interest rates published this today, Monday, 30 April 2007, shows that its deposit interest rates have fallen further compared to that the bank advertised last Tuesday, 24 April 2007.

Some of the changes noted were :

• Retail Term Deposits : 9 months to 1 year - fell from 5.00% to 4.35%;
• Retail Term Deposits : 1 to 2 Years - dropped from 6.00% to 4.35%.

No changes were recorded in the bank's lending interest rates.

I would expect lending interest rates to fall soon as banks' liquidity positions rise from 1 May 2007 when their required cash holdings held with the Reserve Bank of Fiji reduces by 1%.

ANZ Interest Rates (Updated 30.4.07)

Schedule of interest rates released by ANZ Fiji are as follows :

• Business Index Rate - 12.75%;
• Residential Property Loan : Standard Variable Rate - 12.25%, 1 Year Fixed Rate - 10.25%;
• Investment Loan : Standard Variable Rate - 12.25%, 1 Year Fixed Rate - 10.25%;
• Personal Loans : Secured - 12.95%, Unsecured - 14.95%;
• Small Loans : Unsecured - 19.00%;
• Retail Term Deposits : 9 months to 1 year - 4.35%, 1 to 2 Years - 4.35%, 2 Years to 3 Years - 4.50%.

Interest rates are on a per annum basis and may be varied by ANZ without prior notice.

Capital Markets Development Authority - Chief Executive Officer Vacancy

The Capital Markets Development Authority, in Fiji, is seeking applications for the position of Chief Executive Officer.

The Chief Executive Officer will be responsible to the Authority for exercising a clear vision and leadership in driving both the developmental and regulatory aspects of Fiji's capital markets.

Some of the issues the authority is working on include : compliance listings, IPO's, rights issues, takeovers, capital raising and other corporate actions.

The ideal person should have :

• an advanced degree in finance, commerce, law or related disciplines;
• a high level of proven managerial and business development experience;
• a sound knowledge of the workings of capital markets;
• proven skills in strategy formulation and implementation;
• a minimum of ten years (or near) experience.

The term of the appointment is 3 years with scope for renewal depending on performance.

Applications enclosing a curriculum vitae setting out details of qualifications, experience and referees are to sent to the following address no later than 5pm, Friday, 25 May 2007 :

Address : Chairman, Capital Markets Development Authority, PO Box 2441, Government Buildings, Suva or e-mailed to ceo@cmda.com.fj. Envelopes should be labelled "Chief Executive Officer Vacancy - Confidential".

Selected Westpac Fiji branches open on Saturdays

Westpac Fiji's Laucala Bay and Cumming Street branches are to open for business on Saturdays starting from today, Saturday, 28 April 2007. Opening hours are from 9am to 1pm. For more information on Westpac Fiji's products and services, pls call the bank on telephone (679) 132032 between 8am and 6pm, Fiji Time.