Grace Period for Ministry of Health Employees
FAQs - 1st April 2020
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FAQ - Grace Period for Ministry of Health Employees
  • Who is eligible for the grace period?
    • All employees under Ministry of Health.
    • This includes non-medical staff e.g. technicians, accountants etc.
  • When will I be required to repay the postponed installments?
    At the end of the finance the three postponed installments will start month by month as normal.
  • What is duration of the grace period
    All eligible customers will get a grace period of three (3) months
  • What is the period covered
    The grace period will start on April & cover May and June 2020
  • What profit rate will be applicable
    The applied profit rate will be zero (0), no extra profit/charge for the grace period
  • What is the process
    • The customer does not need to submit a request to the bank to apply for the grace period.
    • The bank will take the initiative to provide the grace period to all eligible customers.
    • After the completion of the grace period, the normal repayment will continue. i.e. from the 4th month i.e. July 2020.
  • Which products are eligible for the grace period:
    • Personal finance
    • Real Estate Finance
    • Auto Finance
  • Does the postponement include salary and non-salary transfer clients
    Yes. All salary and non-salary transfer customers are eligible