During the past few weeks, people in Northern Cyprus have worried about the fluctuations of the Turkish Lira and we have received and would like to share with our readers some good news from Creditwest Bank.

 

 

 

 

 

 

CREDITWEST BANK OFFERS EASY PAYBACK OPTIONS FOR CUSTOMERS HOLDING CREDITS

 

FOR ALL NEW APPLICATIONS THERE WILL BE NO COMMISSION OR COST

Creditwest Bank started a set of new applications for CUSTOMERS who have credits in terms of foreign currency in order to provide ease of repayments during the current rise in FX.

The General Manager of Creditwest Bank, Mazher Zaheer clarified that as the biggest private bank of North Cyprus, it will, as always, be on the side of all their CUSTOMERS using credit or savings with the Creditwest Bank. Zaheer added that as the only bank gaining rating from the international rating co-operation Japan Credit Rating (JCR) Eurasia, Creditwest Bank has been sustaining its powerful economic foundation for the last six years with an ‘AA+’ rating.

A VARIETY OF EASE OF PAYMENT OPTIONS FOR CUSTOMERS HOLDING CREDITS

Creditwest Bank explained that during the unpredictable fluctuations of the foreign currency with respect to the lira, they will offer more convenient payback options to CUSTOMERS especially holding credits in terms of foreign currencies.

THE ‘INTEREST PAID ONLY’ OPTION

As applied abroad, the ‘interest paid only’ application will be available for one year to foreign currency credit holding CUSTOMERS. With this application, CUSTOMERS will be able to pay only the interest per month without paying back the principal amount for a year.

TL AND FOREIGN CURRENCY INSTALMENT SKIP OPTION

Due to the rise of foreign currencies with respect to the lira and also the increase of expenses during the Bayram holiday and the start of the new academic year, an option to skip an instalment will be available to all personal CUSTOMERS holding TL or FX credits.

WAGE ORIENTED INSTALMENT PLANNING OPTION

A new option to plan credit instalments according to the income and solvency of the CUSTOMERS is made available with the new application of discounts up to 30%, aiming to provide ease of repayment. In this condition, the remaining balance could be paid on the maturing of the credit.

For all these applications, Creditwest Bank will not apply any commission or expense from the CUSTOMERS for these options.