KINA Bank in Papua New Guinea is offering a new cash back incentive to all eligible home owners, an official says.
Kina’s executive general manager of banking and country head Lesieli Taviri said in Port Moresby yesterday that the K2,000 incentive would be paid once a home loan was settled and this represented a market first for PNG.
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| Lesieli Taviri |
Taviri said the initiative rewarded borrowers and helped them along on this home buying journey.
“Additionally, we will be offering an aggressive 5.47 per cent rate for these loans,” she said.
“Once again, we’re proving a market leading offer that offers people choice.
“We always try to help people with our financial products and services, but we understand that owning your own home is a huge aspiration for everyone and we believe this initiative will encourage people to achieve that.
“Home ownership is a basis for a sound economy as it has a knock-on effect through the purchase of household goods and services.
“This new incentive programme builds on other initiatives that we’ve already rolled out and it plays a apart in helping to build the country’s growth.
“As part of the offering, there will be a dedicated on-line enquiry form that will quicken the loan application process for customers, the form acts as a pre-qualifying process where the bank will gather important information.
“However, strong branch support will also be accessible for people who prefer face to face discussions.
“The cash back offer will run until Sept 30.
“We looking to get as many applications as we can get. Currently, our limit is set at K1 million for the home loan offer.”
The National / Pacific Business News
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