Brac Bank waives penal fees on DPS
Earlier, the bank announced a three-month moratorium for its retail and SME customers and also waived late payment fees for its credit cardholders
Brac Bank has exempted its DPS customers from all penalty fees if they fail to pay installments on time amid Covid-19 pandemic.
According to a media statement issued on Wednesday, the bank said it would waive the standard fee applied if DPS customers miss their installments from the
time span of March 26 to May 31.
The bank will also give a three-month moratorium for customers to deposit their due DPS installments.
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Mahiul Islam, the bank's head of retail banking, said, "We are committed to helping our customers stay strong and safe during the shutdown time. We recognise that many customers have lost their earnings, partially or wholly, during this pandemic that is why we consider it our duty to support them."
"We all are going through a tough time due to the spread of the deadly novel coronavirus. We hope the customers who need to pay their monthly installments
for deposit schemes will find some relief as we allow a free grace period for them," he added.
Earlier, the bank announced a three-month moratorium for its retail and SME customers and also waived late payment fees for its credit cardholders.
