Bank South Pacific gives 3 months holiday repayments for Cyclone Gita damages


Bank South Pacific’s General Manager, Taituuga Maryanne Lameko-Vaai

By Lagi Keresoma

APIA, SAMOA – WEDNESDAY 15 FEBRUARY 2018: The Bank South Pacific (BSP) has introduced a 3 months Holiday Repayment Scheme to assist its’ customers following the devastation brought by Cyclone Gita.

The scheme targets customers who were badly affected by the cyclone and will hold off paying their loans for three months while they rebuild.

“This is really to allow our business and home owners to free up their cash flow so that they can rebuild their homes and businesses damaged by cyclone Gita,” said BSP General Manager, Taituuga Maryanne Lameko-Vaai.

She said the scheme applies to all customers despite how big or small the loan is.

“We have already assessed several businesses and customers we can visibly see the impact of Gita on them and we have started calling customers,” said Taituuga.

“The scheme is for three months. But for severe cases, we decided to give them six months,” said Taituuga.

She said if a customer is paying $2000 per months for a loan then decides to take on the Holiday Repayment scheme; the customer will be able to utilize $6000 for something else instead of repaying for the loan.

“Of all the activities that BSP is committed to, it comes down to us as a business genuinely giving back to the community for their support as well for BSP,” said Taituuga.

In the past with Cyclone Val and Cyclone Evan, the bank gave out cash donations but this time the Bank has decided to change the way to do it.