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All information on the deferral of loan product repayments

CONSUMER LOANS

You can apply at any branch of our bank, but we are working on a call center solution. If you are ill or in quarantine, please submit your request at our bank branch later when you can visit the branch.

However, please consider the change requested, as in the case of a permitted postponing of installments, the loan will continue to bear interest, with unpaid interest for the postponed period of annuity installments included in the annuity installments due after the expiry of the allowed postponement.

Postponement of installments can be requested only on consumer credit, which is not insured in case of ability to repay the loan. If your consumer credit is insured, it is also necessary to ask for cancellation of the insurance for you as a debtor or co-debtor. However, consider whether the insurance will not cover the situation in which you have just found yourself or in which you may find yourself due to the spread of the disease. If you have the possibility to cover the temporary lack of finance with your savings, we recommend that you wait and not to cancel the insurance.

The change will be dealt with under the amendment to the loan agreement.

An application for postponement of installments can be submitted, provided that you do not miss more than one installment on the loan and you are not more than 60 days late in other products at VUB.

We recommend that you carefully consider any change in your installments. If you apply for a deferment of the repayment of a consumer loan, the loan will continue to bear interest, while unpaid interest over the grace period will be included in the repayments that you will repay after the grace period. Since the principal amount does not decrease during the postponement, the accumulated interest is significantly higher. At the end of the postponement, the accrued interest is paid first, and therefore the principal has not decreased for some time even after the postponement.

Regarding the entry in the register, we are dealing with the possibility of a special sign that should not be a problem for clients in the future.

Documents to be submitted with the application:

(a) self-employed client

- Declaration of income decreasing, stating the reasons for the decrease in sales

 (b) standard employee

- reduction of income

• confirmation from the payroll department on the reduction of income, stating the reason for the reduction of income,

 - loss of employment:

• income in the SR - confirmation from the Labor office in the SR

• income abroad - current confirmation from the employer of the termination of employment. "

 

MORTGAGE LOANS

If you are in a situation where the new COVID-19 disease cannot be repaid on time and in the required amount, you can request a full postponement of installments for 2 to 6 months.

You can apply at any branch of our bank, but we are working on a call center solution. If you are ill or in quarantine, please submit your request at our bank branch later when you can visit the bank branch.

The postponed payment represents the complete deferment of the monthly annuity payment (principal and interest).

Insurance installments agreed under the credit agreement for the contractual insurance of real estate, household and credit must continue to be repaid during the full postponement.

It is possible to apply for postponement of installments on all types of mortgages as long as the loan was utilized and pledge over property was completed.

At the same time, there can not be delay in repayment at the time of filing the application for postponed payment.

If there is already a delay in the monthly payment, it must be payed before the application.

After a positive assessment of the application for postponement of installments, the Bank will prepare an amendment to the mortgage loan agreement, which is signed by all participants in the loan relationship. Changing the loan is free of charge.

We recommend that you carefully consider any change in your installments. If you apply for a deferment of the entire installment of a mortgage loan, the loan will continue to bear interest, while unpaid interest over the grace period will be included in the installments you will repay after the deferral.

Regarding the entry in the register, we are dealing with the possibility of a special flag that should not be a problem for clients in the future.

Documents to be submitted with the application:

a) self-employed client

- Declaration of income decreasing, stating the reasons for the decrease in sales

 (b) standard employee

- reduction of income

• confirmation from the payroll department on the reduction of income, stating the reason for the reduction of income,

 - loss of employment:

• income in the SR - confirmation from the labor office in the SR

• income abroad - current confirmation from the employer of the termination of employment. "

OTHER PRODUCTS THAT CAN HELP:

In addition to the loan, the client can also use the authorized overdraft. The provision and use of this product is free of charge. The VUB client has the option to handle the authorized overdraft even without visiting the branch at the contact center. The authorized overdraft is the right product for short-term bridging the lack of funds, as the client can use it as needed and the interest pays only on the spent amount. The granting of an authorized overdraft is subject to the approval of the bank and the assessment of the ability to repay, therefore it is not intended for clients who do not receive any income.

Clients have the opportunity to take a short loan for basic current expenses. The minimum maturity of the loan is 13 months and the minimum amount is EUR 500. The loan is not intended to overcome the shortage of funds in the short term; in such a situation an overdraft or credit card is more suitable, where the flexibility to use the funds is greater. However, each loan goes through an assessment of the ability to repay the loan.