The country of St. Maarten, its Economy and its Community went through 2018 rebuilding after the devastation of hurricane Irma in September 2017.
WIB will automatically implement the 3-month loan moratorium extension on all Commercial and Personal loans / Personal Mortgage, personal & corporate credit cards for which the payments are up-to-date or which are less than 90 days in arrears.
Customers who do not wish to take the moratorium MUST Opt-out by filling out the form on our website (www-wib-bank.net). Customers who decline this program will continue to pay their monthly installments during the moratorium period.
No, your account will not be debited for the loan payments of June, July and August 2020, if you have accepted the moratorium.
Please contact our Contact Center at 546-2942 or via email address firstname.lastname@example.org. If you are contacting us via email please note your full name, ID, address and if possible Loan number. Commercial customers can contact their respective Account Manager.
Please contact our contact center at 546-2942 or via email address email@example.com.
If you are contacting us via email, please note your full name, ID, Address and if possible Loan number.
The deadline to Opt-Out for the moratorium extension is June 12, 2020, however, if your financial situation has changed, you can apply for the moratorium program. Please call 546-2942 or firstname.lastname@example.org. You will still be able to apply for the remainder of the months. If you are contacting us via email please note your full name, ID, Address and if possible Loan number.
Yes it is possible. Please call 546-2942 or send an email to: email@example.com. Upon receipt of your confirmation, the Bank will process the loan payments accordingly. If you are contacting us via email please note your full name, ID, Address and if possible Loan number.
Please visit our WIB website (wib-bank.net).
Only loans granted prior to April 30, 2020 will be considered. You will need to contact the contact center on 546-2942 or send an email to firstname.lastname@example.org.
Yes, these monthly payments have been deferred but you will still need to pay the full 3-month payments in 3 installments which go into effect at the maturity date of your loan. This means that you will continue to pay the same loan instalment for 3 additional months after the loan maturity date has been reached to pay back the months June, July and August 2020. WIB will not charge any interest nor any additional fees on this amount.
A loan account was opened in your name to cover the deferred monthly payments of March, April and May 2020 (and if you accepted the moratorium extension also for the deferred monthly payments of June, July and August 2020). The amount of this new loan account must be repaid starting at the end of the maturity date of the original loan in 3 monthly installments equal to the original loan monthly payment or in 6 monthly instalments if you accepted the extension on the moratorium.
Example: Your monthly payment is NAF 1.500, and your payments of March, April and May 2020 have been deferred. A new loan account is opened for NAF 4.500, which is equal to 3 monthly payments. If the maturity of the loan (end date of the original loan) is December 2021, you will now have 3 additional payments for January 2022, February 2022 and March 2022 each in the amount of NAF 1.500,- to clear the deferred amount of NAF 4.500,-. If you opted for the extension, additional payments have to be made for April, May and June 2022.
No, WIB will not be charging any additional interest on the deferred loan payments of clients who accepted the moratorium.
Refer to question 9. If you decided to use the moratorium offered to you and did not decline you will notice a new loan account number on your Online Banking Accounts List referring to the 0% COVID-19 Moratorium. This is the loan extension for which you are not charged any interest nor any additional charges. The amount indicated is the deferred accumulated amount for the months of March, April and May 2020 which is due by you after the end date of your original loan, spread over 3 equal monthly installments. If you opted-out for the moratorium extension, same applies, but now over deferred over 6 monthly instalments.
This payment will be seen as a payment to the new loan account. Therefore if you wish to pay back the 3 month payments then this will have to be applied to the new loan account.
Your monthly repayment will remain the same until the end of the term of the original loan.Once your original loan matures you will need to repay the 3 monthly payments which were deferred with 3 months, if you accepted the moratorium. If you accepted the extension of the moratorium your monthly payments with be deferred with 6 months.
With the acceptance of the moratorium of March, April and May 2020 your loan repayment schedule will resume in June 2020 and your loan period will be extended maintaining your monthly repayment amount for a period of 3 months. If you accepted the moratorium extension (June, July and August), your loan period will be extended maintaining your monthly repayment amount for a period of 6 months. Please note that this implies that the maturity date of your loan is extended with 3 or 6 months depending on the choice you made and that you will be required to repay the 3 or 6 months after the maturity date of your original loan. This means your repayment of the monthly installments has been extended with 3 months due to the moratorium or 6 months with the acceptance of the moratorium extension.
No your repayment amount will remain the same. Yes, the monthly payment will be automatically deducted for 3 or 6 consecutive months.
Yes. We are closely monitoring the current situation of the Corona virus and are in close communication with the Government and have decided to extend the moratorium with an additional 3 months (June, July and August) at no additional charges nor additional interest.
The moratorium is extended automatically and there is no need to contact the Bank for this. On the other hand if you wish to opt-out, you can do this by latest June 12th 2020. You can do so by visiting our website to fill out and submit the Opt-out form before the above-mentioned date.