We follow up with you on our website, the Central Bank’s decision regarding the 6-month delay in bank loan installments for institutional and individual customers, whether they are consumer or real-estate loans for personal housing. The Deputy Governor of the Central Bank, Jamal Najm, explained that all banks are obliged to postpone the loan installments due on clients for a period of 6 Automated months, without any delay penalty, unless the customer has another desire and requests not to take advantage of the initiative.
Bank loan repayments postponed 6 months
The decision included not to apply any additional fines or returns on late payment, and stressed that all banks must take the necessary measures and implement the decision since its issuance, and the decision will apply to all loans, whether small, large or medium for all institutions and personal loans.
Information on the loan deferral initiative
It is noteworthy that the initiative to postpone loan installments for a period of six months, started in the current month, and ends in September, and it includes many types of personal loans, including auto loans, real estate financing, durable goods, personal loan, and also loans to small, large and medium companies, as for Micro-project loans are not subject to the initiative due to the different nature of the payment of installments.
Take advantage of the initiative of the Central Bank
All clients can take advantage of the Central Bank initiative to postpone the payment of loan installments for a period of six months, with the exception of clients who do not wish to participate, and they must go to the branch of the bank that deals with it and ask to sign not to participate in the initiative and pay regularly, because delaying the installment is done in a manner Automatic from the banks, and the customer makes a call to the bank only to confirm that the installment is postponed, without imposing any fines.
The Central Bank stressed that the purpose of this initiative is to support and stimulate society for citizens, and reassurance to the Egyptian market, with the support of banks to support the economy, in the measures and measures that the country is taking currently to prevent the spread of infection, besiege the disease and its relationship to developments in the banking market.
–
