Payment options and loan deferments for NMIRF borrowers

Posted on Mar 19 2020


Northern Mariana Islands Retirement Fund borrowers and debtors on Rota, Tinian, and Saipan will be offered various payment solutions during this time of global health and economic impact. 

The options are as follows:

1. Loan revision: Will help provide lower monthly payments and interest rate. This will be available to members who have not already availed previously to this option.

2. Payment deferment: Borrowers may defer loan payments for up to three months.  However, NMIRF borrowers and debtors are required to notify NMIRF of their request to avail of the deferment by filling out an Allotment form. NMIRF Allotment forms can be found in the forms section of the web page.

3. No interest will accrue for 90 days beginning April 1, 2020, for all loans. If borrowers and debtors choose to make payments during the loan deferment period, all payments will be applied to the principal loan balance.

4. For loans that are delinquent for more than 30 days, this offer on loan payment deferral will not cure the delinquent amounts owed.

Should you have any question contact NMIRF program manager Velma Palacios via email or at (670) 664-1100 when government office resumes normal business hours. (PR)

Press Release
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