MauBank Launches Support Scheme to Ease Loan Repayments

MauBank has announced a support plan to provide relief to its clients holding housing loans, study loans, and SME loans.

Starting from July 3, 2023, the plan includes a moratorium and reduced interest rates for housing loans, with the moratorium applicable to all loan amounts and the preferential rate for loans up to Rs 5 million.

Clients with study loans can enjoy a lower interest rate for one year, irrespective of the loan amount. SMEs have the option to reschedule their loans with a two-year extension.

Moratorium on capital repayment

• Duration:  12 months
• Loan Amount:  Not Applicable
• Eligibility:  Household income not exceeding Rs 100,000
• Processing Fee:  0.5% of loan balance, to a maximum of Rs 5,000

The Chief Executive of MauBank, Premchand Mungar, emphasised the “importance of supporting clients during these challenging times.”

The support plan is valid for one year, and individuals can inquire about it at any of MauBank’s 19 branches.

Source: Maubank