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Covid-19: Republic Bank defers loan payment for customers

Covid-19: Republic Bank defers loan payment for customers

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Republic Bank has announced series of measures to mitigate the impact of covid-19 on its customers.

According to the bank, customers who are currently servicing loans and mortgages could have payments deferred for as much as six months upon request.

The bank has also suspended charges on some services in order to ease the stress on customers as the world battles to find antidote the deadly virus.

Below are measures announced by the bank on its website

Personal Customers
• Mortgages – Moratorium of up to 6 months
• Personal Loans – Moratorium of up to 6 months.
• Automatic waivers for the next 3 months on:

  • Overdrawn Account Fees
  • Penalties for early withdrawal of Fixed Deposits

Commercial and Corporate Customers
• Moratorium on all loans for up to 6 months and will be made available upon request
• Debt restructuring &/or Temporary increase in overdraft limit will be considered on a case by case basis
• Automatic waivers for the next 3 months on;

  • Overdrawn account fees
  • Late fees on loan repayments

Eligibility and Application
To be eligible for the Moratorium, Customers must be in good standing with the Bank, meet Credit Criteria and apply for the deferment.
To apply for this offer, kindly follow the below guidelines
• Click on this link to apply online or
• Contact your Relationship Manager or Branch by telephone or email for details and in order to apply.

As we all work together to overcome these challenging times, the Bank continues to urge customers to limit the number of in-branch visits and utilize our digital and electronic banking channels. Customers are also encouraged to contact your Home Branch, Corporate Banking or Contact Centre via telephone at 020-2020299 and on Whatsapp 055-6543212, regarding any queries or challenges that may be faced. Customers may also email any queries to email@republicghana.com

Source: Ghana/Starrfm.com.gh

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