Credit installments may be postponed for 3 months in connection with a coronavirusOn March 29, 2020 by admin
Loans can be suspended for three months. The epidemic threat in Poland has caused banks to address the problems that may arise when paying back mortgages. The Association of Polish Banks recommended solutions in the coronavirus related Act that would enable credit holidays for investment, mortgage and cash loans.
3 months break in repayment
In a statement of the Polish Bank Association of March 16, 2020, it was reported that due to the COVID -19 coronavirus pandemic, banks in Poland would allow and facilitate clients to postpone repayment of principal and interest installments or installments for up to three months.
The loan repayment period will be automatically extended for the same period, provided that the loan repayment period is extended.
The facilities are to concern housing loans, consumer loans for individual clients, and loans for entrepreneurs. They are to rely, among others on quick consideration of the applications of those clients who justify the need to postpone (suspend) their loan due to their financial situation caused by the COVID-19 coronavirus pandemic.
Good Credit offers up to 6 months break
Good Credit customers received on Monday, March 16, 2020 in the morning information that from 16:00 allows each individual customer and small and medium-sized companies to postpone repayment of the loan installment up to half a year. This applies to all loans repaid in installments, among others cash, mortgage or corporate.
Applications for postponement of loan installments
It has also been reported that banking institutions will not charge fees or commissions for the acceptance and processing of suspension suspension applications. Applications will be submitted without unnecessary formalities. These are applications without the need to submit additional documents and certificates confirming in detail the current financial and economic situation of the applicant.
Applications for deferment of installments can be submitted remotely, i.e. via e-mail, electronic banking or by phone. Banks will allow the submission of the abovementioned remote applications. Even in a situation where it was not specified in the contract with the bank, provided that the customer can be identified.
It was declared that the above recommendations would be implemented by banks in Poland immediately.