FAQ - Grace Period for Ministry of Health Employees
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Who is eligible for the grace period?
- All employees under Ministry of Health.
- This includes non-medical staff e.g. technicians, accountants etc.
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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.
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What is duration of the grace periodAll eligible customers will get a grace period of three (3) months
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What is the period coveredThe grace period will start on April & cover May and June 2020
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What profit rate will be applicableThe applied profit rate will be zero (0), no extra profit/charge for the grace period
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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.
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Which products are eligible for the grace period:
- Personal finance
- Real Estate Finance
- Auto Finance
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Does the postponement include salary and non-salary transfer clientsYes. All salary and non-salary transfer customers are eligible