As part of its goodwill gesture, BBK on Monday announced a loan installment break for its Car and Consumer loan customers.
This relief measure, is offered when an ‘understanding and caring’ spirit is crucial, providing both a complete waiver of charges and additional interest for the first month, followed by substantially reduced charges for the second and third months.
“The past few months have taken a heavy toll on citizens across Bahrain,” said BBK’s Chief Executive, A. Karim Bucheery, “and it is at times like this that the Bank must provide vital support to its loyal customers and the country wherever possible.” BBK has previously made similar gestures for Eid and Ramadan.
However, the Bank’s Management recognizes that the recent nationwide events, which have resulted in stressful financial implications call for immediate actions. With this relief gesture, customers will be able to better manage their finances, while the Bank in turn fulfils their innate mandate to be of service to its customers and to the country.
The waiver is offered to all eligible Consumer and Car Loan customers who wish to take advantage of this move, regardless of the level of their salaries whereby both processing charges and interest fees for the first month will be waived, and the second and third month fees will be substantially reduced. Customers may avail of the offer prior to the end of May. The postponement period applies across the months of May, June, July and August. Customers wishing to take advantage of this offer are advised to visit their nearest BBK branch at the earliest opportunity, to ensure loan postponement requests are processed as soon as possible.
By alleviating their customers’ financial burden, Bucheery said: “We maintain that the growth of the Kingdom and that of the Bank are closely intertwined. By providing a lending hand to customers through this challenging time, BBK also hopes to be able to add stimulus to the economy. Relief in one way can permit other expenditures, injecting vital cash into the country’s businesses”. With a common focus of ‘total customer satisfaction’ across all the Banks services, the Bank and its Management hope to facilitate a ‘brighter choice and future’ to customers.