Bahrain National Bank offers 6-month loan repayment rescheduling
The National Bank of Bahrain (NBB) offers loan repayment rescheduling options for an additional six months until December 2021, in accordance with the guidelines of the Central Bank of Bahrain (CBB).
The CBB’s extension mandate aims to alleviate some of the financial burden on those affected by the pandemic, by providing relief on standing loan payments. Rescheduling loans will incur interest charges for the desired deferral period, but no additional charges.
Due to the postponement, this will lengthen the maturity of the loans while the payment amounts will remain unchanged.
Individual customers who wish to request a deferral of their loan must complete an online application through the bank’s online portal.
Subah Al Zayani, Managing Director of Retail Banking at BNB, said: “We continue to support the government’s efforts to minimize the economic impact of the pandemic and provide financial assistance in these difficult times, while placing our customers at the forefront of these national guidelines. .
“As part of our responsibility to keep our customers safe during the current pandemic, we have implemented a seamless digital process to facilitate applications without the need to visit a physical branch. The process is very transparent and convenient as it allows customers to identify additional charges for the preferred deferral period. – TradeArabia News Service
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