Laamu Atoll Council introduces deferment for loan schemes
The deferral is applicable to trust fund, atoll committee and student loans
The council has been taking several initiatives to support the residents during this challenging time
Laamu Atoll Council has decided to introduce a deferral to their loan schemes and plots of land rented to the citizens.
As such, the atoll council revealed that individuals who have settled their payments by February 2020 will be applicable to the loan deferment. The loan scheme was introduced by the council in light of the Covid-19 situation in the country.
The loan deferment is valid through March 2020 to August 2020, during this period, no added interests or fines will be imposed.
The deferral is applicable to trust fund, atoll committee and student loans.
Further, the council revealed that they have pardoned the fines imposed between February and May and decided to pardon the rent money for plots of land is also in effect from April for a period of three months.
This will take effect once individuals address a letter explaining how their businesses have been affected by the Covid-19 pandemic, to the council.
However, individuals are required to settle the payments after the given deferral period, and the council has provided their account number, 7707700363001 through which the transfer will be accepted. Individuals are required to forward the payment slip to 7950713 once its done.
Individuals opting for mobile banking transfers are required to leave their names and addresses as well as details of the payment in the remarks section
