Bank Windhoek recognises the challenges faced by clients in the agricultural sector due to persistent drought conditions. In line with the Bank of Namibia's determination, we are offering drought relief solutions to support farmers during these difficult times.
Relief Options
Loan Moratorium
Eligible clients can apply for a moratorium (payment holiday) on loan repayments for up to 12 months.
The moratorium can cover the principal amount or both principal and interest, depending on the client's financial circumstances.
Emergency Credit Facilities
Short-term loans are available under preferential terms to assist with working capital needs.
These loans feature reduced interest rates (Prime - 0.5%) and may include a moratorium on the principal amount for up to 6 months.
Eligibility Criteria
To qualify for drought relief, clients must:
Operate within the agricultural sector.
Demonstrate that their financial challenges are due to drought conditions.
Show viable repayment ability after the relief period.
Be in good standing (emergency loans are not available to clients in arrears for more than 90 days).
Terms and Conditions
Loan Moratorium: Relief may be granted for up to 12 months, with a NAD500 administrative fee for the first application.
Emergency Loans: Maximum term of 60 months, including the moratorium period. Funds are strictly for short-term needs and cannot be used for debt consolidation or other purposes.
How to Apply
Contact your nearest Bank Windhoek branch to discuss your needs and submit your application. Our team will work with you to determine the most suitable relief option based on your circumstances.
Bank Windhoek is committed to journeying together with our clients through these challenging times.
