TCI: Scotiabank Extension on Debt Relief Customer Program

#TurksandCaicos, January 31, 2018 – Providenciales – For customers still recovering from last year’s hurricane season, Scotiabank has announced the automatic extension of their Customer Assistance Program until the end of February.

The program is a relief effort designed to help the Bank’s customers in the countries severely affected by the aggressive hurricane season.  Customers whose loan payments have been suspended will benefit from an automatic extension until February 28th, 2018, with no action required from the customer.  The suspension covers loan payments including mortgages, personal loans, credit cards and lines of credit.

Although no payments are due before March, interest will continue to accrue during the payment moratorium and will be added to the end of the loan.  Customers with the ability to make monthly payments are encouraged to do so on a voluntary basis to minimize interest charges.

Customers wishing to opt out of the program, or who wish to discuss their eligibility for refinancing or consolidating their debt are invited to call (649)946-5032.  Customers are also invited to contact the Bank to discuss any financial needs not included in the Customer Assistance Program.

Scotiabank has been in the Caribbean for over 128 years, and had previously announced a donation of US$500,000 towards the relief effort as part of their contribution to the rebuilding exercise.  Half of this money will be channeled through the Canadian Red Cross that already has active societies in the affected communities, with the remainder being directed to initiatives supporting young people in these areas.

Release: ScotiaBank