Banks: March premium discount for personal funds .. and facilities start from April salary

Banks reported that the postponement of the monthly installments, with respect to personal funds, applies to the funds for a month, which is April, confirming that they will deduct the monthly installment by the end of this March as usual.

Employees at bank call centers said that she had no information yet about clients benefiting from the banking sector initiative to mitigate the consequences of the Corona virus, while other employees indicated that it could be postponed provided that an application was submitted, but for next month's salary.

They assured, "Emirates Today", that the postponement of the installments does not include the dues on credit cards, although the initiative stipulated that credit card customers can benefit from the installment programs due, without paying any interest or fees for a period of up to six months.

The banking sector in Dubai had revealed an initiative that includes several facilities, the most prominent of which is allowing clients who have obtained loans to obtain a grace period of up to three months, in which they stop paying the installments due to them, without paying any interest or fees.

Banks in Abu Dhabi also revealed similar measures and facilities to mitigate the effects of Corona.

Personal finances

In detail, the Customer Service Officer at an Islamic bank, who only announced her name as (RO), said that the procedures for postponing the monthly installments apply to personal funds, and for a period of one month, which is April, explaining that personal funds include loans, travel and education financing, and ship and boat financing , And loans combined in one loan.

She indicated that these delays do not include all customers, nor does it apply to car loans or credit card payments, noting that the bank does not yet have information about clients who benefit from this, as well as there is no information regarding the rules that apply The clients benefiting from the delay.

She added that the bank is waiting for the central bank to send to the banks operating in the country a list of the names of the clients, who will be subject to the decision of postponement, according to the rules it sets.

Candidates

Another employee at the call center of the same bank, in response to the inquiries of "Emirates Today", regarding the issue of postponing the monthly installments, said that "until now, no orders related to that have come," adding that "a message will be sent to the customer, if he is a candidate to postpone the installments from If not, just as the client can, in the event of a compulsive circumstance to postpone, review any branch of the bank and submit an application, but this request is subject to approval by the administration.

Terms

Emirates Today also contacted the Islamic Bank itself twice regarding the postponement of the personal finance premium, but the bank refused to postpone, for two reasons: The first is the lack of completion of a year on the personal loan, which is a condition he has to postpone the monthly installment, while the second reason was related to the institution in which the customer works And whether it is among the institutions affected by the economic consequences of the Corona virus.

He stated that the clients received a letter from the bank, informing them that the monthly installment is due, on March 26.

conflict

In addition, the responses of the customer service employees in another Islamic bank were conflicting, regarding the postponement of the installments to the customers, as an employee confirmed, preferring not to mention her name, that there is currently no confirmation or generalization of the postponement, while another employee stated through a second call to customer service, that the customer can be postponed Provided that an application is submitted in the bank branch, but for the next month.

The customer service employee explained that with regard to postponing the installments on credit cards or financing the car, there was no generalization or confirmation about postponing the installments to customers by deduction from the salary of the current month, noting that those who wish to postpone follow-up with the bank, during the coming days, to know any new developments About the postponement generalization.

It stated that customers can submit a regular request to postpone the installment, according to the established procedures.

On the other hand, the customer service employee, who requested anonymity, said that it is possible to postpone the customer provided that an application for postponement is made in one of the bank’s branches, as this transaction cannot be completed through the application, or through the electronic platform via the Internet, pointing out that the postponement relates to By choosing one of the coming months, not the end of this month.

mechanism

As for the employee (A.A.), in customer service at the bank himself, he said that the administration has not yet issued an official decision on how to implement the mechanism for postponing installments for customers, and that this mechanism can be clarified and how to implement it in the coming days, and will it cover financing installments only, Or will it also include credit card installments.

Car premiums

The bank also told «Emirates Today», when inquiring about the postponement of a car premium during the current month, that customers should check with the bank’s branch, to know whether or not they are eligible to obtain this delay.

Postponement rules

On the other hand, the customer service employee at a national bank, Hessa, said that the decision to postpone the installments generally applies to personal loans, auto loans and mortgage loans for individuals.

She stated that the bank does not know, until now, the rules that determine postponement or customers who are entitled to postponement, pointing out that the bank will later address the authorities concerned with the names of clients who have obtained loans, whether personal, cars or mortgage, to know the clients who are entitled to benefit from the postponement. , And the procedures that they must take to postpone the premiums.

She pointed out that the delay can also apply to the accounts of companies, but also by sending letters to the concerned authorities in the name of these companies, to determine whether they are entitled to benefit from the delay.

Request

For his part, another national bank explained that the procedures for postponing the installments of individual dealers, who benefited from personal loans, car loans, or mortgages, include applying for a grace period, and stopping the payment without paying any additional fees, indicating that these procedures Apply from next April. The bank added that the departments in the bank will be provided with more details and procedures that will be taken in this framework, in the coming period, to deal with the requests of customers who would like to benefit from the decision to postpone the installments, pointing to the bank providing options to postpone the payment for its customers, according to the applicable rules and conditions It out in the bank.

And that for the bank’s corporate customers, it is possible through the measures taken to postpone the payment of installments, for a period of up to three months, without any interest or fees on a group of loans.

credit cards

In a related development, a local bank confirmed that the postponement of dues on credit cards is not covered by the initiative of the banking sector, to alleviate the repercussions of the Corona virus.

The bank indicated that postponing the dues on credit cards is carried out according to the usual policy of the bank, and it is subject to the prescribed fees and benefits.

It is noteworthy that the initiative stipulated that credit card customers can take advantage of the installment programs due to school installments and food purchases, without paying any interest or transaction fees, for a period of up to six months.

Postponement selection

In turn, another local bank stated that the customers' installments will be postponed for one month, stressing that the customers will be given the freedom to choose between postponing the installment, to any of: May, July or next June, according to the desire of the customer, and that the postponement process will be free without added fees for the customer .

The bank indicated that in the event that the trader is infected with the Corona virus, or is subject to health conditions, the bank can grant him to postpone his installments for a period of up to six months, provided that he submits an approved medical report in his health condition, stating that the process of postponing the installments will include all types of funds, including It includes real estate financing.

Affected

In the same context, a national bank customer service center said that postponing the installments only to those affected by "Corona", whether individuals or companies, and a maximum of three months without fees, and includes the installments of personal loans, corporate and auto financing, noting that the postponement does not include card installments Credit.

Activate

The Customer Service Center at a national bank said that, since yesterday, it had started activating the decisions to mitigate the effects of the spread of the Corona virus in customers, as it allowed postponing the installments of personal loans for a period of six months, for patients with the disease provided that a medical certificate was presented, in addition to allowing a period of three months For those whose work has been affected, provided that he attends a letter from the human resources in the authority in which he works, stating that he has not received a salary during the next three months, indicating that a delay of a month is available.

Postponed on the occasion of Ramadan

A customer service center affiliated with an Islamic bank said that the bank intends to postpone some of the installments due to customers for next April, as is customary every year on the occasion of Ramadan, and not because of the spread of the Corona virus.

The center said, in a response to «Emirates Today», that all auto financing will not be postponed, while the rest of the financing is subject to the bank’s discretion, indicating that there are funds that are eligible for installments, and others that will not be deferred.

He added that the funds that are eligible for postponement are those whose owners are obliged to pay on time without delay, in addition to some other conditions, which are determined by the bank’s management every year.

The center indicated that the bank will send a text message to customers who are eligible for postponement, during the first half of next April, stressing that those who are not qualified will not receive messages.

The procedures for postponing installments include applying for a grace period, and stopping payment.

- Banks allowed to postpone the installments only to those affected by Corona, whether individuals or companies.