Bank of Hawaii Providing Assistance Programs In Response to COVID-19 Impacts
March 17th, 2020
HONOLULU, HAWAII (March 17, 2020)—Bank of Hawaii has initiated two financial assistance programs to help Bank of Hawaii loan customers facing financial hardship as a result of COVID-19.
“We know our local community is already feeling the impact of the COVID-19 outbreak,” said Peter Ho, chairman, CEO and president of Bank of Hawaii. “This is an unprecedented situation, and by offering these financial assistance programs as quickly as possible, we hope it eases some of the financial stress and burden our customers may face.”
The programs are being provided to Bank of Hawaii customers who may be experiencing financial hardship as a result of income interruption resulting from COVID-19.
1. Forbearance Program:
- Provides loan forbearance for up to 3 months for residential mortgages, home equity loans and home equity lines in the amortization period.
- Forbearance amount can include a partial loan payment up to full payment based on the amount the borrower can afford to pay.
- The total amount of payments deferred will be due on the first due date following the end of the forbearance term, or according to terms of the repayment plan.
2. Extension Program:
- Provides a loan extension for up to 3 months for products, including: direct installment (personal loans) and indirect loans (auto).
- Principal and interest payments will be deferred for the term of the extension.
- Full payments are due on the first due date following the end of the term of the extension.
Information and specific details on each of the programs are available by calling the follow numbers:
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