Bank of Maldives BML has today opened applications for the Second Moratorium for customers with existing personal, housing, and business loan moratoriums with repayments due to start in September 2020.
The bank said in a statement that eligible customers can log-in to the moratorium portal on the Bank’s website to apply for the second moratorium.
It said that customers will be able to view the loans available for the second moratorium as well as the new repayment amounts on the portal.
BML clarified that once approved, repayments will not be required until December 2020.
It said that applications for the second moratorium with repayments due to start in October and November 2020 will be accepted from 8th October and 8th November respectively.
BML added that a separate announcement will be made once the Second Moratorium application process is open for BML Islamic customers.
BML said that If customers are able to meet the loan repayments regularly following the initial 6-month moratorium, they may not wish to apply for the second moratorium.
BML announced a moratorium for loans and financing facilities in March 2020 to minimize the impact on individuals and businesses due to COVID-19.
