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StanChart BD offers comprehensive steps

FE DESK | April 01, 2020 00:00:00

Standard Chartered has decided to offer a comprehensive set of support measures for its wide range of clients to help pull through these difficult times.

"Standard Chartered has stood by the communities we serve in Bangladesh for over 115 years - a partner in progress to the nation, a witness to the innate resilience of its people. The bank remains as committed as ever to be Here for good for our clients, stakeholders and communities, serving as a partner in progress through these challenging times," said a statement.

The Bank is proactively working with businesses and customers to help them navigate the challenges and uncertainty caused by this global health event.

The support measures announced to date are:

Small & Medium Enterprise/Business Banking Clients

• Three-month payment holiday for Loan Against Property, Finance Against Property (Saadiq Customers) and Mortgage loans for business-owners

• Extension of Trade Facilities of up to 60 days for Business Banking Working Capital clients

• Temporary overdraft or incremental short-term liquidity facility for Working Capital clients

• Limits Top Up for Loan Against Property Clients of up to a portion of the original approved limits

Corporate clients

lImmediate Payment holidays for 30 days. Further extension will be considered on case to case basis.

• Given the situation is evolving, the bank will utilize the payment holiday period to assess the need for additional support, in discussion with the clients.

Waiver of penal interest and late payment charges for the clients who will be eligible for the above programme.

Waiver of the Credit Card late payment fee for entrepreneurs.

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