Products & Offers

Mortgage Repayment Holiday FAQs

Stanbic Bank Loan Repayment Holiday

Dear Customer,

As a Bank, we recognize that we are collectively affected by the Coronavirus pandemic (COVID-19) developments. We strive to put in place contingency plans to avoid potential disruptions of services for our customers. 

Following directives in a statement dated 18th March 2020 by the Central Bank of Kenya, the Bank has put measures in place in order to elevate the adverse economic effects our customers may face from the Coronavirus pandemic (COVID-19). 

We will be giving you a repayment holiday on your Mortgage Stanbic Bank loan facility (ies) for up to 6 (Six) months.

How does it work?

  • The Bank will defer your payment instalment(s) by extending the maturity of your loan by up to an additional 6 (Six) months
  • The repayment holiday applies to both Kes and FCY
  • Subsequent instalments remain unchanged. Your normal instalment payment(s) will resume in October 2020.
  • Take note however that the applicable monthly insurance premium (retrenchment cover premium and any other insurance premium applicable to the loan will still be collected from your account as scheduled). It is therefore your responsibility to ensure that your account is sufficiently funded when the premium falls due.
  • The interest on the outstanding principal will continue to accrue during the repayment break. The accrued amount will be redistributed within the repayment schedule for the subsequent months. You will be able to see this impact on your new repayment schedule. 

To access this repayment holiday, this is what you need to do:

• Send an SMS to 22208 that reads “YES HL” from the number you have registered on mobile banking.

All other terms and conditions stipulated in your respective facility letter(s) remain unchanged and continue to be of full force and effect together with the Bank’s General Terms and Conditions. In the event of any ambiguity arising or conflict existing between the provisions of this notice and those of the facility letter(s), the provisions of the facility letter (s) and the Bank’s General Terms and Conditions shall prevail.

 

Frequently Asked Questions

1. What is a loan repayment holiday?

A loan repayment break is an offer that Stanbic Bank has extended to selected customers exempting them from their monthly loan repayments falling due between April and September 2020 for a period of 6 (Six) months.

2. How do I know if I have been pre-selected for the repayment break?

• You will receive an official communication from the Bank using the number you have registered on mobile banking or an email as maintained by the Bank advising you of the offer. You will be expected to read these terms and conditions and if in agreement, send an SMS or email that reads “YES HL”.

3. Does this loan repayment break increase my future repayment amount?

• No. Your loan repayment amount remains unchanged.

 

4. Which loans does this offer apply to?

• Mortgage

5. Which parts of the loan will be exempted in this offer?

• Principal and Interest or as indicated on the SMS message sent to you

6. Does this loan repayment break include insurance premiums (domestic, retrenchment and Life covers) embedded on your loan as well?

• No. Please ensure your account is sufficiently funded for this.

8. How long will this offer run for?

• This offer is only valid for the selected loan instalment falling due between April and September 2020 for a period of 6 months and for those who will have responded by 21st April 2020

9. How do I get my new repayment schedule to see impact of this repayment holiday on my loan

• You can request for your repayment schedule either through your respective Relationship Manager or by writing an email to[email protected]

Unsecured Personal Loan Repayment Holiday FAQs

Stanbic Bank Loan Repayment Holiday

Dear Customer,

As a Bank, we recognize that we are collectively affected by the Coronavirus pandemic (COVID-19) developments. We strive to put in place contingency plans to avoid potential disruptions of services for our customers.

 

Following directives in a statement dated 18th March 2020 by the Central Bank of Kenya, the Bank has put measures in place in order to elevate the adverse economic effects our customers may face from the Coronavirus pandemic (COVID-19).

 

We will be giving you a repayment holiday on your Unsecured Personal Loan Stanbic Bank loan facility (ies) for up to 6 (Six) months.

How does it work?

  • The Bank will defer your payment instalment(s) by extending the maturity of your loan by up to an additional 6 (Six) months
  • The repayment holiday applies to both Kes and FCY
  • Subsequent instalments remain unchanged. Your normal instalment payment(s) will resume in October 2020.
  • Take note however that the applicable monthly insurance premium (retrenchment cover premium and any other insurance premium applicable to the loan will still be collected from your account as scheduled). It is therefore your responsibility to ensure that your account is sufficiently funded when the premium falls due.
  • The interest on the outstanding principal will continue to accrue during the repayment break. The accrued amount will be redistributed within the repayment schedule for the subsequent months. You will be able to see this impact on your new repayment schedule.

 

To access this repayment holiday, this is what you need to do:

• Send an SMS to 22208 that reads “YES PL” from the number you have registered on mobile banking;

All other terms and conditions stipulated in your respective facility letter(s) remain unchanged and continue to be of full force and effect together with the Bank’s General Terms and Conditions. In the event of any ambiguity arising or conflict existing between the provisions of this notice and those of the facility letter(s), the provisions of the facility letter (s) and the Bank’s General Terms and Conditions shall prevail.

 

Frequently Asked Questions

1. What is a loan repayment holiday?

A loan repayment break is an offer that Stanbic Bank has extended to selected customers exempting them from their monthly loan repayments falling due between April and September 2020 for a period of 6 (Six) months.

2. How do I know if I have been pre-selected for the repayment break?

• You will receive an official communication from the Bank using the number you have registered on mobile banking or an email as maintained by the Bank advising you of the offer. You will be expected to read these terms and conditions and if in agreement, send an SMS reads “YES PL”.

3. Does this loan repayment break increase my future repayment amount?

• No. Your loan repayment amount remains unchanged.

 

4. Which loans does this offer apply to?

• Unsecured Personal Loan

5. Which parts of the loan will be exempted in this offer?

• Principal and Interest or as indicated on the SMS message sent to you

6. Does this loan repayment break include insurance premiums (domestic, retrenchment and Life covers) embedded on your loan as well?

• No. Please ensure your account is sufficiently funded for this.

8. How long will this offer run for?

• This offer is only valid for the selected loan instalment falling due between April and September 2020 for a period of 6 months and for those who will have responded by 21st April 2020

9. How do I get my new repayment schedule to see impact of this repayment holiday on my loan

• You can request for your repayment schedule either through your respective Relationship Manager or by writing an email to[email protected]

Vehicle & Asset Finance Loan Repayment Holiday FAQs

Stanbic Bank Loan Repayment Holiday

Dear Customer,

As a Bank, we recognize that we are collectively affected by the Coronavirus pandemic (COVID-19) developments. We strive to put in place contingency plans to avoid potential disruptions of services for our customers.

 

Following directives in a statement dated 18th March 2020 by the Central Bank of Kenya, the Bank has put measures in place in order to elevate the adverse economic effects our customers may face from the Coronavirus pandemic (COVID-19).

 

We will be giving you a repayment holiday on your Vehicle Asset Finance Stanbic Bank loan facility (ies) for up to 6 (Six) months.

How does it work?

  • The Bank will defer your payment instalment(s) by extending the maturity of your loan by up to an additional 6 (Six) months
  • The repayment holiday applies to both Kes and FCY
  • Subsequent instalments remain unchanged. Your normal instalment payment(s) will resume in October 2020.
  • Take note however that the applicable monthly insurance premium (retrenchment cover premium and any other insurance premium applicable to the loan will still be collected from your account as scheduled). It is therefore your responsibility to ensure that your account is sufficiently funded when the premium falls due.
  • The interest on the outstanding principal will continue to accrue during the repayment break. The accrued amount will be redistributed within the repayment schedule for the subsequent months. You will be able to see this impact on your new repayment schedule.

 

To access this repayment holiday, this is what you need to do:

• Send an SMS to 22208 that reads “YES VAF” from the number you have registered on mobile banking;

All other terms and conditions stipulated in your respective facility letter(s) remain unchanged and continue to be of full force and effect together with the Bank’s General Terms and Conditions. In the event of any ambiguity arising or conflict existing between the provisions of this notice and those of the facility letter(s), the provisions of the facility letter (s) and the Bank’s General Terms and Conditions shall prevail.

 

Frequently Asked Questions

1. What is a loan repayment holiday?

A loan repayment break is an offer that Stanbic Bank has extended to selected customers exempting them from their monthly loan repayments falling due between April and September 2020 for a period of 6 (Six) months.

2. How do I know if I have been pre-selected for the repayment break?

• You will receive an official communication from the Bank using the number you have registered on mobile banking or an email as maintained by the Bank advising you of the offer. You will be expected to read these terms and conditions and if in agreement, send an SMS reads “YES VAF”.

3. Does this loan repayment break increase my future repayment amount?

• No. Your loan repayment amount remains unchanged.

4. Which loans does this offer apply to?

• Vehicle Asset Finance

5. Which parts of the loan will be exempted in this offer?

• Principal and Interest or as indicated on the SMS message sent to you

6. Does this loan repayment break include insurance premiums (domestic, retrenchment and Life covers) embedded on your loan as well?

• No. Please ensure your account is sufficiently funded for this.

8. How long will this offer run for?

• This offer is only valid for the selected loan instalment falling due between April and September 2020 for a period of 6 months and for those who will have responded by 21st April 2020

9. How do I get my new repayment schedule to see impact of this repayment holiday on my loan

• You can request for your repayment schedule either through your respective Relationship Manager or by writing an email to[email protected]


Sharesocialicons

Online Banking

  • Rates & fees

  • Call me back

    First name * :
    Surname * :
    Contact number:
     
    Product of Interest: