Tuesday 14 July, 2020

RBC rolls out phase two of deferral programme for C’bean clients

RBC Royal Bank has announced a second phase of financial relief options for its Caribbean clients impacted by the ongoing novel coronavirus (COVID-19) global pandemic.

Effective immediately, RBC Personal Banking clients across the Caribbean will be able to apply for payment deferrals on auto loans, installment loans, and mortgages.

RBC advised that clients will be able to defer their payments for up to three months.

Clients may apply for the deferral programme online through their web browser at https://caribbean.rbcroyalbank.com. Clients must apply for deferrals by 11.59 pm EDT/AST on July 15, 2020.

Business Banking and Corporate Banking clients can also apply for financial relief. However, this depends on individual eligibility assessments with a Relationship Manager.

Clients accounts must be current and in good standing as of February 29, 2020 to qualify for the programme.

Clients who participated in the first phase of automatic payment deferrals are eligible to apply for these additional deferrals.

Those who are already participating in non-coronavirus RBC relief programmes are excluded from this programme.

RBC indicated that the relief programme is intended to provide flexible solutions and help clients manage through the impacts of COVID-19, such as pay disruption, childcare disruption due to school closures, or dealing with the COVID-19 illness itself.

The bank encouraged those who are in a position to keep making their regular monthly payments to continue to do so.

RBC said it will continue to monitor COVID-19 and the evolving economic conditions in each country and territory where the bank operates.

The bank assured that additional relief measures will be considered if the need arises.

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