This is to inform all our valued clients that in line with His Majesty’s Royal address dated 10th April, 2020, the relief measures taken by the Royal Government of Bhutan, Royal Monetary Authority of Bhutan and the Banks are as follows:
- The relief measures will be applicable to all loans availed on or before 10th April,2020 except for loans to government, loans to Financial Institutions, Staff Incentive loan )
- Payment will be deferred for three months (April to June 2020) for all applicable loans both performing & non-performing:
- Interest will be waived off for three months (April to June 2020) for all performing applicable loans as on 29 February, 2020 including loans availed on or before 10th April, 2020: and
- No penalties will be charged for all existing applicable loans for 3 months.
In the view of deferment measured, we will be disabling Standing Instructions (SI) for all EMI deductions. Clients need not visit the bank to avail this arrangement. However, clients who are willing to pay monthly EMI despite the relief measures may inform the Bank to enable the SI.