COVID-19 Relief Measures
Support to Borrowers affected from COVID-19 third wave
In accordance with the relief measures declared by the Central Bank of Sri Lanka under Circular No 08 of 2021 dated 01 September 2021, to support businesses and individuals affected by COVID-19, the DFCC Bank PLC invites its eligible Borrowers who wish to avail concessions under the said scheme to forward a written request setting out the reasons for eligibility and the requirement to the respective Branches and / or to the Relationship Managers.
Such requests to be submitted to covid19relief@dfccbank.com on or before 21st September 2021.
Request letter format and salient features of the circular is attached below
Conditions Apply.
SUMMARY
01) Eligible Borrowers should submit their written request on or before 21st September 2021
02) For loan and lease facilities, the amount due from 01st September to 31 December 2021 will be deferred up to 31 December 2021
a. Amounts falling due during the concessionary period will be converted to a new term loan. Bank will amalgamate all previous moratorium loans of a specific facility into a single new moratorium loan
b. Interest will be accrued for the deferred amount for the differed period at the rate of Treasury Bills plus 1% p.a, payable in 6 months commencing July 2022. Borrower may commence the repayment of the new loan at an earlier date
c. The borrower may request a longer repayment tenor, however the rate of interest is to be mutually agreed upon
d. Borrowers should commence repayment of the main loan from 01st January 2022
03) Due date of the Revolving working capital, short term trade finance facilities, Pawning, temporary overdrafts will be extended upto 31 December 2021 provided the due dates falling due during 01 September to 31 December 2021
04) Bank on case-by-case basis may reschedule the existing non-performing credit facilities as at 01 September 2021, over a longer period, for clients with repayment capacity, who provide an acceptable revival plan
05) Penal Interest will not be charged from 01 September to 31 December 2021
06) Validity period of cheques will be extended until 31 October 2021 for cheque valued less than Rs. 500,000
07) Cheque returns and stop payments charges will be discontinued until 30 September 2021
08) Credit Cardholders who are demonstrably affected can request for a maximum payment due date extension of 15 days but not exceeding 31 October 2021. The Late Payment Fee for these requests will also be refunded
09) Applicable processing fee will be 50% of the existing tariff
10) The Bank provide rebates to promote early settlement of facilities
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