03:31 PM
Sunday 05 April 2020
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I wrote – Manal Al-Masry:
The National Bank of Egypt and Egypt announced the procedure that their customers can take in case they do not want to postpone the payment of loan or credit card payments, according to the initiative of the Central Bank.
The central bank decided mid-last month, to postpone the payment of credit entitlements to all customers for a period of 6 months from the date of the decision in the package of measures to address the consequences of the Corona virus and mitigate its effects on citizens and companies.
According to the decision of the Central Bank, the postponement of loan and credit card installments will be automatic without the client requesting it.
Banks will not impose fines or interest on delay, but will place interest on the 6-month delay period.
But if you want to continue to pay the installments on time, this is how:
1- Al-Ahli Bank:
The National Bank sent a text message to its borrowing clients requesting a response with the word “pay off” in case they wish to continue paying the installments according to the existing payment schedule and with the same value of the current installments.
This word will be sent to No. 1121 until the 14th of this month.
According to Hisham Okasha, the head of the National Bank, that if the message is not answered, the bank will post the repayment schedule, and defer it for a period of 6 months, while recalculating the value of the installments to include the contractual interest that will be raised on the balance for the six-month period stage.
If you do not wish to postpone the National Bank credit card installments, you must send a message with the word “discount” to No. 1121 until March 14.
Failure to send the message means that the customer wants to postpone the installments for a period of 6 months until September 2020 while continuing to calculate the interest declared on the balance without requiring payment and any commissions or delay interest.
2- Banque Misr:
Banque Misr asked its clients who did not wish to postpone the payment of their loan installments for a period of 6 months, to fill out a special form on the bank’s website.
The bank sent a text message with an electronic link to all the bank’s clients, telling them that those who do not want to participate in the 6-month postponement initiative and regular payment of installments per month, by entering through the link and filling in the form of non-postponement from the bank’s website, to be sent to the bank electronically.
The bank added that if the installments and payments are not postponed regularly, please contact one of the following:
– Visit the following link https://bit.ly/3dvMGye, as it includes a form on the bank’s page and the customer completes it and emails it to take the necessary action.
– When the customer enters the bank’s WhatsApp application and requests that the installments are not postponed, the link for the application appears and the same text message steps are followed.
Call the bank hotline 19888.
– Go to your branch if you cannot reach through the above.
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