Payment ‘holiday’ for bank clients

Payment ‘holiday’ for bank clients

MASERU-STANDARD Lesotho Bank has introduced payment holidays that will allow the bank’s customers to defer payments or pay part payments for the next three months.

The bank said the new measures were part of Standard Lesotho Bank’s contributions to minimise the financial impact of Covid-19.
The relief measure follows a proposed debt relief programme announced by Prime Minister Thomas Thabane last week.

The bank said the measures were meant to ease the burden for businesses and individuals who have been affected by the pandemic.
In a statement released yesterday, the bank said it will also “extend existing loan periods or extend additional credit to manage short time cash shortfalls for businesses”.

“Customers will have to sign for these amendments on their existing contracts and each request will be treated on a case by case basis,” the statement reads.
However, the relief measures will only be extended to individuals and businesses whose incomes have been directly affected by the pandemic.
“All other customers who continue to receive salaries as normal, such as government employees, security forces and teachers are expected to pay their loans as normal,” it reads.

The affected clients will have to produce evidence by way of a letter from their employer.
For businesses, the bank has made available templates that can be accessed through their relationship managers for applications.
Customers who are already in arrears are urged to contact the bank for other personalised solutions other than those mentioned above.
“These measures are intended to ease the financial burden on our clients during this time,” the statement reads.

Business clients and Private Banking Clients can speak directly to their dedicated relationship managers to access the relief.
These offers will be extended to clients who are in good standing with bank.
The contact details are the following toll free numbers: Enterprise Direct 80022122 and, Prestige Direct 80022121 and, Customer Contact Centre 80022221 and

Lemohang Rakotsoane

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