Yes. Online payments can be made via Surepay online.
Payment can be made via Salary Deduction, or Standing Order with your bank or the Fund or via bill payment via the RBC. Repayment via SurePay and Surepay online are available as well.
Payment can be made via wire transfer, International Postal Money Order, Cashiers’ cheque, draft or standing order using a credit card.
Yes, sureties guarantee that they will pay if the borrower fails to repay the loan. Sureties are therefore informed of any default and required to make payments towards the full installment or the monthly interest portion of the loan.
Interest relief is offered when the loan payback period has not expired but the beneficiary is desirous of closing the loan within a short term period. A rebate is given on a percentage of the excess interest accumulated on the loan due to missed payments during the repayment period of your loan.
Amnesty is offered when the stipulated repayment period has expired but the loan still has an outstanding account balance.
Rather than paying the monthly loan instalment they would be required either principal or interest only depending on their declared financial position. A graduated repayment amount can also be offered for a specific period.
At any branch of the Barbados National Bank (BNB) or the General Post Office or Royal Bank of Canada (RBC).