Bank borrowers’ repayment extended until Aug. 31

Borrowers can repay their bank loans until Aug. 31 as the central bank extended the deadline considering the Covid situation.

The relaxation was announced Monday by a Bangladesh Bank circular.

It said the measure of shifting the June 30 deadline was taken considering the negative impact of coronavirus on the country’s economy.

Those unable to repay their loan instalments by June 30,can do it until Aug. 31 on the basis of bank-client relation.

In this case, their loans would not be classified if 50 of their loans’ payable instalment are paid,” it said, adding that other policies will remain applicable in case of calculating the loans, lease, interest on advances and profits while no penalty interest or extra fee will be charged.

Source: United News of Bangladesh