Bank of SVG have crafted a Customer Support Programme for those loan customers who are directly impacted by Hurricane Beryl. The Customer Support Programme will provide a loan deferral of principal and interest payments (loan moratorium) for eligible personal and business customers for a period of up to six (6) months commencing July 1, 2024, and ending December 31, 2024.
Based on our initial assessment, the eligible customers will comprise of the following:
- All loan customers on the portfolios of the southern Grenadines branches of Canouan and Union Island
- Customers in the northern Grenadines and the mainland who were directly impacted, whether by way of damages, loss or reduction in business income, and loss or reduction in employment income.
Given the challenges with communication in the southern Grenadines in particular, we have already suspended payments for the customers on the Canouan and Union Island portfolios. We have also received requests from customers in the northern Grenadines and the mainland, which are being reviewed and processed.
To apply or seek further clarification on the Customer Support Programme, please note the following contact information:
- Email: [email protected]
- Telephone: 784-452-4366 or 784-452-4367 during working hours (8:00 am – 3:45 pm)
- Mobile [including WhatsApp]: 784-533-2743 or 784-533-2728
- Or visit us on the 2nd Floor of the Reigate Building, Granby Street, Kingstown
Customers whose employment or businesses are not immediately impacted will continue to pay their loans as per the agreed terms. However, we will consider, on a case-by-case basis, those customers whose combined disposable income was indirectly impacted, mainly from job losses within the immediate and or extended family.
Please note that, as a result of your participation in the Customer Support Programme, the maturity dates of the loans will be extended by a maximum of six (6) months to facilitate the repayment of the deferred principal and interest payments. Accordingly, in the majority of cases, loans will be restructured at the end of the moratorium period to incorporate the unpaid interest.
The Customer Support Programme will not be available to customers whose loans were already over ninety (90) days in arrears and classified as non-performing as at July 1, 2024.
