Bred Bank offers loan relief package to customers
BRED bank has offered a relief package to its personal loan to customers as of yesterday in the face of the coronavirus threats.
The package include a deferment of loan repayment of principals and interest for a period of six months.
It says during this period. customers do not need to make loan repayments but interests will be charged and added back to each customer’s loan account as when they are due.
BRED bank says it will also extend the loan term by six months so that after the initial six month lapses, loan repayments do not increase substantially.
However, customers who do not require such deferral and extension should advise the bank by Wednesday next week.
The action is a contribution by BRED bank to assist the government and the public fight against the coronavirus.