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a girl and a teddy bear are wearing masks together; image used for HSBC Coronavirus relief measures page

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Covid-19 relief measures to support customers and the community

With the resurgence of COVID-19 in the country, the financial well-being of our customers and the wellbeing of our communities that we serve is our priority. That’s why we’re offering relief measures to support you in your time of need.

COVID-19 relief measures for customers with Personal loans and overdrafts

We are here to help and below are the relief measures available for our customers:

Hardship and forbearance support for customers

Personal Loans
  • 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.
How does a Loan Moratorium Work?
  • 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.
Overdrafts
  • 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.
How does a Overdraft Moratorium Work?
  • 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.
Eligibility criteria for a Loan and overdraft Moratorium

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.
How to Apply

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.

Undertaking letter for loan moratorium

Click FAQ to learn more about Loan Moratorium

Undertaking letter for overdraft moratorium

Click FAQ to learn more about Overdraft Moratorium

Easy access and convenience for personal banking customers for their everyday banking needs
  • Free registration for HSBC Online Banking and Mobile Banking.
  • Access to a range of digital banking services via HSBC Online Banking and Mobile Banking.
  • Access to over 4,000 Lanka Clear and VISA Plus ATMs for all Premier and Advance customers free of charge.

Learn more about how to bank safely from home with Online and Mobile banking.

We are here to support you and we are #InThisTogether. We hope that you and your family stay safe.

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