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 periodAll eligible customers will get a grace period of three (3) months
What is the period coveredThe grace period will start on April & cover May and June 2020
What profit rate will be applicableThe 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 clientsYes. All salary and non-salary transfer customers are eligible