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The Debt Reset Program is a limited-time SLB initiative designed to help our Targeted Loan customers get back on track financially. It offers the following benefits:
If your loan is overdue as at October 31, 2025:
By paying your principal arrears and 50% of your interest arrears, within five (5) months (December 1, 2025 – April 30, 2026), you will receive a waiver of the other 50% of your interest arrears.
You will also receive 100% waiver of late fees and 100% waiver insurance charges.
If your loan is in Good Standing / Current as at October 31, 2025A one-time credit of up to JMD $100,000 will be made to your account.
From December 1, 2025 – April 30, 2026
No. It does not cancel or erase principal. It modifies and waives eligible charges and applies a one-time credit to help customers settle more easily.
The customer was not in arrears as at October 31, 2025, and met all agreed repayment terms up to that date.
No. The credit applies only to accounts that were in good standing as at October 31, 2025. However, such customers may still benefit from the waivers once they meet the payment conditions during the program period.
No. Debt Reset applies only to Targeted Loans. However, if all your loans are from our Targeted Loan type, an application must be submitted separately for each loan account, and the borrower must meet the terms on each account individually.
A one-time credit (capped at $100,000) is applied to the loan balance. However, if the remaining balance is less than $100,000, the credit equals the outstanding amount.
Yes, they may select a payment plan in the application. All payments must be completed within the program period.
Program benefits are revoked, and the loan reverts to its original terms, including reinstatement of waived amounts.
Changes are not guaranteed. Requests must be made before the due date and approved in writing.
Only official SLB-approved payment channels (as outlined in the approval email/portal). Customers must retain receipts for proof of payment.
Note: Applications will not be accepted in person.
Applicants will receive a confirmation email with next steps, payment schedule, and approval details.
Customers who maintain good standing for one year after joining the program receive a 2% reduction in their loan interest rate.
From the program acceptance date (the date SLB confirms participation).
The borrower may forfeit the 2% discount. Customers are encouraged to communicate early if repayment issues arise.
Customers who already have a salary deduction in place will benefit from the program. Their SDOs can be aligned with the Debt Reset Plan. Any shortfall must be paid via approved channels.
Eligibility will be assessed as at July 31, 2025. Customers should still apply via the online portal for review.
Yes, customers who are living overseas are eligible. They must use approved electronic payment channels and ensure timely transfers.
Guarantors may be notified of significant changes, but original obligations remain unless SLB provides written modification.
Yes, clearing arrears and maintaining regular payments enhances their credit profile. SLB reports updates through standard reporting cycles.
Updates appear after processing. Confirmation letters may be issued upon request.
Yes, but benefits may be forfeited. Waivers and credits could be reversed.
No. Payments already applied are non-refundable unless a verified error occurs.
SLB does not provide tax advice. Customers should consult the Tax Administration Jamaica (TAJ) or a qualified tax advisor.
SLB handles personal data securely and lawfully, consistent with the Data Protection Act and SLB's Privacy Policy.
Support & Contact:
They must contact the Client Relationship Management Services Division immediately before the due date. Renegotiations are not guaranteed but early communication is critical.
No, the Debt Reset Program is a one-time opportunity per loan account.