NSB resumes granting of CBSL recommended debt moratorium

National Savings Bank (NSB) has resumed granting of debt moratorium as recommended by the Central Bank of Sri Lanka (CBSL).

When COVID-19 first appeared in the country during the month of March this year, the Government imposed island wide curfew to control the situation and since many people lost their income due to disruption of businesses or loss of employment under the circumstances, a debt moratorium has been introduced by the Government to extend a helping hand. 

Accordingly, as per the directions and instructions of the CBSL, NSB has also implemented the said debt moratorium under which, the bank has taken measures to cease the recovery of loan instalments relevant for the months of April, May and June 2020 from the salary or pension of all performing retail loan customers. 

As per the subsequent directions and instructions of the CBSL, the bank has continuously granted the debt moratorium, and a great number of loan customers who have joined hands with NSB has been able to reap its benefits. NSB, as a responsible Government Institution and corporate citizen of the country, often strives to fulfil our duty and obligation of the hour by offering a relief for our customers, who are affected by such challenging times.  

With the decision of the Government to extend the repayment period of the loans following the second wave of COVID-19 in the country, NSB has already taken all the required measures to grant this concession further for its customers in compliance with the direction of the CSBL regarding the same.  Accordingly, the application for the debt moratorium is available at the corporate website of the bank, www.nsb.lk and all branches. The customers of the bank can be eligible for the debt moratorium by submitting the duly completed application to the relevant branch on or before 30 November. 

It is expected to ensure the benefit of this debt moratorium for a large number of loan customers of the bank engaged in various sectors, who have lost their income due to the quarantine measures taken to control the spread of COVID-19, such as isolated areas or travel restrictions.