#InThisTogether

• A debt moratorium of up to six months will be offered to all eligible loan customers who make a written or electronic request to the bank along with relevant supporting documentation.
  

• As part of the moratorium relief effort bank will convert the capital and interest on contracted rate falling due during the moratorium period up to 31 March 2021 or a shorter period as applicable, to a separate term loan.
• An interest rate will be charged to this converted term loan, not exceeding the latest auction rate for a 364- days Treasury Bills, available immediately after the respective moratorium period, plus one percent per annum.
• The repayment period of such converted loans shall be within a period of 24 months and the repayment shall commence from 1 April 2021.
• Bank will waive off penal interest as at 1 October 2020. Penal interest will not be accrued and charged during the moratorium period.

• A debt moratorium of up to six months will be offered to all eligible overdraft customers who make a written or electronic request to the bank along with relevant supporting documentation.
  

• A overdraft moratorium up to 6 months will be granted for the interest up to 31 March 2021, where the accrued interest during the moratorium period will be converted to a Term Loan at the end of the moratorium not exceeding 31 March 2021.
• An interest rate will be charged to this converted term loan, not exceeding 4% per annum. This applicable rate will be set at the end of the moratorium period and will be notified in the facility offer letter.
• The repayment period of such converted loans shall be within a period of 12 months and the repayment shall commence from 1 April 2021.
• The borrower will have the option of early settling the converted loan and need to request for the same in writing.
• The Bank will waive off penal interest as at 1 October 2020. Penal interest will not be accrued and charged during the moratorium period.

Customers who are engaged in the below industries who are adversely affected by Covid-19 will be considered eligible for the relief programme subject to verification;

• Business, proprietors and individuals engaged in tourism, direct and indirect export related business including Apparel, IT, Tea, Spices, Plantations, Logistic suppliers, Event Management and any other sectors adversely affected by Covid-19.
• Individuals engaged in business sectors such as Manufacturing, Non-Financial Services, Agriculture (including Processing), Construction, Value Addition and Trading businesses including authorized Domestic Pharmaceutical Suppliers.
• Self-employed individuals who have lost their jobs or income due to Covid-19.

If you wish to obtain this relief measure, please complete the letter of undertaking and send a request via written and/or electronic medium along with the below supporting documentation

- Latest salary slip (within last 2 months) and a salary slip as of Feb or March 2020 as proof of salary reduction.

OR

- Employment confirmation letter as proof of job loss

If you are self -employed and wish to apply for a moratorium, please provide us last 2 months statements of other banks and 2 statements of other bank within January to March 2020 as proof of income reduction.

The completed documents can be handed over to the nearest HSBC branch or sent via email to covid19relief@hsbc.com.lk on or before 30 November 2020. In order for the request to be eligible, customers must place their signature on the letter of undertaking and submit with all relevant documents.