The selection of a deferral mechanism is subject to mutual agreement between the parties.
Mechanism No. 1 - deferral of principal and interest for up to 6 months
- The amounts due (principal and interest) will be deferred for up to six months, but no later than 31.12.2020.
- The entire balance of the debt, including the unpaid principal during the grace period is repaid according to a new repayment plan for a period of up to six months longer than the original, depending on the number of deferred payments.
- To each installment of the repayment plan until the expiry of the loan shall be added an equal part of the unsettled interest during the grace period.
Mechanism No. 2 - deferral of principal for up to 6 months
• The principal due is deferred for up to 6 months, but no later than 31.12.2020.
• The interest payable for the period shall be paid in accordance with the contract;
• A new repayment plan is prepared to cover the entire balance of the debt, incl. unpaid principal during the grace period. The new repayment schedule is extended depending on the number of unpaid installments, but by no more than 6 months.
Mechanism No. 3 applicable to revolving products
Revolving of a credit line is allowed even when the installments due or part of them have not been repaid. The repayment of installments is deferred for up to six months, but not later than 31.12.2020.
• No minimum amount for revolving of the credit limit on a credit card is defined, from 1st of February 2020, for a period of up to 6 months, but no later than 31 December 2020. After the grace period expiration, the minimum revolving amount is re-established and the loan is serviced under the original contract.
• In up to six months, but not later than 31.12.2020 the due monthly interest on overdrafts is repaid with the unused limit or its payment is deferred for up to six months after the expiration of the grace period.