National Bank of Bahrain offers loan rescheduling

MANAMA: National Bank of Bahrain (NBB) has started offering rescheduling of loan repayment options for an additional 6-month period until December 2021, as per the directives of the Central Bank of Bahrain (CBB), and as part of the Bank’s ongoing support to its customers, the community and national economy.

All customers have the option to postpone instalment payments on their retail loans starting from July 2021 and ending December 2021, the bank announced yesterday.

CBB’s extension mandate aims to alleviate some of the financial burden from those who have been affected by the pandemic, by providing relief on standing loan instalments.

Rescheduling of loans will entail interest charges for the desired postponement period, but no additional fees.

As a result of the postponement this will extend the maturity of loans while instalment amounts will remain unchanged.

Retail customers who wish apply for the loan deferral are required to fill out an online application through the bank’s online portal.

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