BVI News

National Bank offers loan concessions

PRESS RELEASE: The National Bank of the Virgin Islands hereby advises of the following loan concessions, due to Hurricane Irma’s severe impact on the Territory.

Personal Loans:

The bank will grant a three-month moratorium, (that is, a temporary suspension) on all personal loan payments. Personal loan payments will be automatically suspended for three months with no action required by the customer. If you are an exceptional case that does not wish for your loan payment to be suspended, please contact the Bank immediately.

Residential Mortgages / Commercial Loans:

The bank will grant a three-month moratorium, (that is, a temporary suspension) on all residential mortgage and commercial loan payments, in accordance with customer requests and signed authorizations. Further to the three-month moratorium period, residential mortgage and commercial customers will be assessed on a case-by-case basis with respect to extension requests.

Residential mortgage and commercial loan customers are asked to visit the Bank effective Monday, September 18, 2017 to execute a simplified form confirming the status of your property and/or business, insurance claims, and future intentions. The bank is also in the process of scheduling visits at centralized district locations to facilitate those customers that are unable to make it to the Bank in person, due to after-effects of the storm.

The Board of Directors, management and staff of the National Bank of the Virgin Islands wishes you the best in your recovery efforts as we unite to rebuild and restore our Virgin Islands. We remain yours faithfully, the official bank of paradise.


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