Covid-19: Republic Bank offers six-month loan deduction holiday to customers

Mr. Farid Antar, MD of Republic Bank

Republic Bank Ghana, a subsidiary of Republic Financial Holdings Limited (RFHL) has announced an offer of Loan Repayment Deferment for Customers and Staff of the Bank for a maximum period of six months in response to the Covid-19 pandemic.

The Loan Repayment Deferment offer is currently available upon request, a statement from the bank said on Thursday.

“Customers can apply for this offer by contacting their respective Branch/Corporate Managers or Relationship Officers by telephone, email or completing an online deferment offer form available from 27th March, 2020 on the website of the Bank – In addition, the Bank has also introduced automatic waivers until 30th June, 2020 on the following: ➢ Excess fees ➢ Late fees on loan repayments.

According to the Managing Director of the Bank, Mr. Farid Antar, Republic Bank recognizes the economic effect of social distancing which has become necessary to stem the spread of the virus.

“As a Bank with a heart, we recognize that these are critical times for everyone, with an expected high pressure on cash flows for both individuals and businesses. We have therefore taken a bold decision to offer a loan payment deferment option to our Customers and Staff.

“This we believe will cushion their cash flows in order to support them to take all precautionary measures needed to protect their families and themselves from the spread of the virus,” the Managing Director added.

Mr. Antar has also recommended that Customers of the Bank limit the use of the Banking Halls and instead, utilize the digital channels.

He also took the opportunity to urge Staff, Customers and the General Public to take all precautionary measures to protect themselves and families against the coronavirus (Covid-19). A Republic united against coronavirus will prevail.

Source: Daily Mail GH

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