NBB offers 6 month loan rescheduling options to customers

NBB offers 6 month loan rescheduling options to customers

In line with the directive received by the Central Bank of Bahrain, and as part of the National Bank of Bahrain's pledge to support the community and national economy at all times, NBB will offer customers the option to postpone payments on their Personal, Commercial, SME, and Mortgage loans, including those under the Mazaya scheme, for the duration of six months, commencing in January 2021 and ending in June 2021. The directed initiative aims to provide financial relief to customers affected by the COVID-19 pandemic, while working towards supporting the local economy. NBB customers will have the option of postponing installment payments on their Personal, Commercial, SME, and Mortgage loans, until June of this year, providing relief on standing loan instalments with an application of interest charges and insurance premium charges for the desired postponement period, as directed by the Central Bank of Bahrain. In order to apply for a personal or mortgage loan postponement plan, retail customers will be required to fill an online application available on the NBB website. Upon clicking the link, customers will be directed to a digital application platform, where they will be required to provide CPR number and await a first OTP