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March 19, 2020 - For Immediate Release:

Emanating from the Banking and Insurance Financial Services Sub-Committee formed by Prime Minister Dr. The Honourable Keith Rowley, First Citizens has developed relief concessions for our customers in recognition of the negative financial impact associated with measures taken to limit the spread of the COVID-19 (corona virus).
In this regard, Group CEO Karen Darbasie stated “Our deepest concern is for the welfare of our employees and our customers, and for our customers, we have activated key measures to help them through the financial difficulties they may face at this time.”


The following initiatives are intended to assist both individual and business customers. These measures will be in effect through the next three months in the first instance:

 
Individual/ Personal Banking Customers


Credit Cards
The following will apply to all personal credit cards, for the billing cycle starting April 11, 2020:

  • The interest rate on First Citizens credit cards will be reduced to 1.67% per month.
  • Customers will be allowed to defer their monthly payments for the period.
  • Late fees related to credit cards will be waived for the period.

 

Instalment and Mortgage Loans
Deferral of loan instalments will be automatically applied for customers of good standing, along with the commensurate waiver of penalty charges and fees.
Commercial and Corporate Banking Customers
We have reduced our Prime Lending Rate on all impacted loan facilities from 9.5% to 7.5%, effective March 20, 2020.


Point of Sale Terminals

  • Waiver of rental fees on the Point of Sale terminals at our Merchants for the period.


Commercial and Corporate Loans
All customers are invited to contact their account representative to establish a plan that may include some or all of the following:
Deferral of loan payments with the commensurate waiver of all related penalty charges and fees.

  • Specific relief and/or additional working capital facilities especially for critically affected industries.
  • Customized and flexible payment options.

For clarification or queries, our customers may send an email to specialrelief@firstcitizenstt.com. We are committed to working with you to successfully negotiate the challenges that may be posed by COVID-19.

 
Larry Olton
Head – Brand and Marketing
March 19th, 2020

 

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