[ad_1]
Due to the coronavirus, the grace period to repay loan installments is no longer extended. However, borrowers will get “special” benefits from repaying installment loan installments. A maximum of 50 percent additional time will be available for repayment of outstanding installments on the term loan. The Bank of Bangladesh has issued a circular in this regard on Sunday.
It is known that due to the Corona epidemic, special discounts were given in the repayment of loans throughout the period of last year. Although the merchants demanded an extension of the loan exemption period, the meeting of the central bank board did not take it into account. As a result, if someone defaults on the loan as of January of this year, they will become delinquent under the rules.
The circular said that in order to keep the impact of the Corona epidemic on borrowers at a tolerable level, a circular was issued on September 26 of last year to provide deferred benefits to all types of loans from January to December of the year. past. However, to facilitate the repayment of loan installments, the maximum term of the term of the term loan account can be extended only on January 1, 2021 considering the effect of Kavid on existing unclassified borrowers and the amount of loan arrears. However, the extended period will not be more than two years.
In order to protect borrowers due to the Corona epidemic, a moratorium was imposed on the obligation to repay the loan in April last year. The central bank has issued a circular in the direction of the government stating that even if a borrower does not repay the loan from January to June, no change can be made in the loan category. This discount was later extended until September. In the last third phase it was extended until December.
Meanwhile, before the end of December, the FBCCI, the leading business and industrial body, wrote a letter to the governor demanding an extension of the repayment period until June 2021. But in the end, the Bangladesh Bank decided not to extend the deadline. .
[ad_2]
