NSB continues granting debt moratorium recommended by CBSL | Daily News

NSB continues granting debt moratorium recommended by CBSL

When the spread of Covid-19 first appeared in the country, during the month of March this year, the Government has imposed islandwide quarantine curfew to control the situation and since many people lost their income due to disruption of businesses or loss of employment under the circumstances a debt moratorium has been introduced by the Government to extend them a helping hand.

As per the directions and instructions of the Central Bank of Sri Lanka (CBSL), National Savings Bank (NSB) has also implemented the said debt moratorium under which, the Bank has taken measures to cease the recovery of loan installments relevant for the months of April, May and June 2020 from the salary or pension of all performing Retail Loan customers.

As per the subsequent directions and instructions of CBSL, the Bank has continuously granted the debt moratorium and a great number of loan customers who have joined hands with NSB has been able to reap its benefits. NSB, as a responsible government institution and corporate citizen of the country, often strives to fulfill our duty and obligation of the hour by offering a relief for our customers who are affected by such challenging times.

With the decision of the Government to extend the repayment period of the loans following the second wave of Covid -19 in the country, NSB has already taken all the required measures to grant this concession further for its customers in compliance with the direction of CSBL regarding the same.

Accordingly, the application for the debt moratorium is available at the corporate website of the Bank, www.nsb.lk and all branches. The customers of the Bank can be eligible for the debt moratorium by submitting the duly completed application to the relevant branch on or before November 30.

It is expected to ensure the benefit of this debt moratorium for large number of loan customers of the Bank, engaged in various sectors, who has lost their income due to the quarantine measures taken to control the spread of Covid-19 such as lock down of areas or imposing travel restrictions.