What is Interest?

Interest is a fee paid on borrowed assets. It is the price paid for the use of borrowed money [1], or, money earned by deposited funds [2]. Assets that are sometimes lent with interest include money, shares, consumer goods through hire purchase, major assets such as aircraft, and even entire factories in finance lease arrangements.

The interest is calculated upon the value of the assets in the same manner as upon money. Interest can be thought of as "rent of money". For example, if you want to borrow money from the bank, there is a certain rate you have to pay according to how much you want loaned to you.

At the Fiji Development Bank, we have a variety of loans which you can take at a reasonable interest rate. Whether you need to upgrade your farm, start a new business or thinking about exporting your goods, there is a product just suited for your needs. Drop into any of our 9 branches Fiji wide or Head office in Suva and talk to one of our customer service representatives and find out the best solutions.

What is Fees?

Legal fees comprise a large part of the cost of doing many things. Whether for an individual or a business, legal fees apply to anything that requires legal action.