NASSAU| Royal Bank of Canada (RBC) yesterday announced a three months payment deferral on credit facilities for its personal banking clients in the Caribbean impacted by the COVID-19 global pandemic.
The bank announced yesterday that effectively immediately, “most RBC Personal banking clients in the Caribbean will benefit from an automatic three-month payment deferral on credit facilities”.
The statement continued: “Business and Corporate banking clients are also eligible for the relief program, following individual eligibility assessments with an RBC representative. Automatic payment deferrals will be applied as of March 17, 2020 and remain in effect until June 30, 2020, or until further advised.”
To be eligible for the program, personal banking or Business and Corporate banking client accounts must be current and in good standing as of March 2, 2020. Clients who are already participating in RBC relief programs for other circumstances are excluded from this program.
