Republic Bank has announced several measures to relieve customers of some of the financial impact they may face as a result of the coronavirus pandemic.
In a statement this afternoon, Republic Bank Guyana announced a moratorium on personal and mortgage loans for up to 6 months. This will be available upon request by the customers.
Additionally, Debt restructuring will be considered on a case by case basis and the bank will allow a temporary increase of overdraft and credit card limits on a case by case basis. There will be Automatic waivers for the next 6 months on Credit Card late fees and over-limit fees.
The bank is also waiving Late fees on loan payments and penalties for early withdrawal of Certificates of Deposit.
There will also be a reduction in the overdraft interest rate. The same moratorium is being extended to SME, Commercial and Corporate customers. Customers seeking to benefit from the moratorium and automatic waivers must be in good standing with the bank.
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