DFCC Bank provides financial concessions to those affected by the COVID-19 pandemic
April 21, 2020
In aiding the prevailing situation in the country, a full service commercial bank DFCC Bank, has made the responsible decision to provide financial concessions to its valued customers who have been affected by the Covid-19 pandemic, in accordance with the relief guidelines invoked by the Sri Lankan Government through the Central Bank of Sri Lanka (CBSL).
As a result of the current global health crisis, CBSL has provided a set of guidelines to the commercial banks of Sri Lanka to assist citizens who have been adversely affected. Since the aforementioned global pandemic affected Sri Lanka, several measures have been initiated by the Government, such as extended curfews, for the protection of all Sri Lankans to prevent the virus from spreading further. However, this scenario has resulted in depriving most residents, regardless of social positioning, of their daily incomes.
Consequently, in order to release them of the apparent financial burdens that have arisen, DFCC Bank will provide relevant financial concessions in the following manner with immediate effect: temporary overdrafts, import & export loans and other short-term loans extended until 30th April; permanent overdraft facilities to be expired on 25th March extended until 30th September; returned cheque and stop payment charges not applicable until 30th September; small & medium enterprises, tourism, direct and indirect export related businesses, information technology, plantations and related businesses to be extended a relief period of 6 months; the business sector to be granted working capital credit facilities at a reduced interest rate of 4% per annum; credit card payment due dates extended until 11th may, with a late payment fee not being charged until 30th September; and the minimum credit cards payment reduced from 5% to 2.5% until 30th September. furthermore, the repayment period of leasing facilities for three-wheelers, transport vehicles for school children, motorcycles and taxis will be extended until the 30th September; the concession period for leasing facilities granted up to Rs. 1 million to be extended for 3 months; and the concession period for unredeemed pawned articles up to 31st march to be extended for 6 months.
DFCC Bank customers that consider themselves applicable to the above-mentioned concessions are to provide formal letters of request to the Bank on or before 30 April 2020. Regarding the situation, CEO of DFCC Bank Lakshman Silva commented, “The health and safety of our valued customers is utmost important to us. We hope that the aforementioned concessions would be of extreme benefit to them during this difficult period for the whole country.”
About DFCC Bank
DFCC Bank is a fully-fledged commercial bank offering the gamut of commercial and development banking services. The bank was also ranked amongst Business Today’s Top 30 businesses in Sri Lanka and was placed in the 25th position in Brand finance top 100 Most Valuable Brands, 2019. DFCC Bank is rated AA- (lka) by Fitch Ratings Lanka Limited.
