NBB offers 6-month loan postponement options

TDT | Manama

The Daily Tribune – www.newsofbahrain.com

NBB said it will offer customers the option to postpone instalments on their Retail, Commercial & SME loans for six months, commencing in January 2022.

The initiative falls in line with the Central Bank of Bahrain’s directives to provide financial relief to customers affected by the effects of the COVID-19 pandemic.

NBB customers will have the option of postponing instalments on their Retail, Commercial and SME loans from January 2022 for six months, providing relief on standing loan instalments.

The instalment amounts and the interest rate will remain unchanged. Rescheduled loans will be subject to additional interest without rescheduling fees.

Retail customers should apply online for deferrals through the bank’s online portal (www. nbbonline.com).

Applications will be available from January 3rd until January 16th, 2022. Customers will also receive an SMS notifying them of the portal’s availability.

Instructions on how to apply for a deferral is available on the bank’s social media platforms.

Subah AlZayani, Chief Executive - Retail Banking at NBB, said: “Customers can apply for a loan deferral via NBB’s online portal easily and efficiently.”

Arif Janahi, Head of Commercial & SMEs, added: “Our dedicated team of relationship managers are proactively contacting our Commercial & SME customers advising them on the most suitable options for each client.”

NBB has already reached out to its corporate customers to relay the processes and procedures required of Commercial & SME clients and has been actively working with customers wishing to benefit from the loan deferral option available.

Customers can visit nbbonline.com to fill out their loan deferral request or contact their Relationship Manager directly.

Clients can also contact NBB’s Contact Centre on 17214433 for further enquiries.