Act LVIII. of 2020 on the Transitional Rules and Epidemiological Preparedness related to the Cessation of the State of Danger has imposed payment deferral (payment moratorium), which means that the debtor receives a payment deferral from the fulfilment, of the obligation to pay principal, interest or charges arising from the loan contract.
We wish to advise you that in this regard the following applies to private individuals and small and medium-sized enterprises:
- the payment moratorium is to be applied to loans and credit facilities already disbursed under contracts which were in effect at 24:00 hours on 18 March 2020
- the following loans are included: housing loans, home equity loans, “Baby boom” loans, personal (cash) loans, employer loans, current account overdrafts, credit cards, financial lease contracts, as well as market-based or state-supported credits granted to small and medium-sized enterprises
- during the moratorium, clients are relieved from their obligation to pay principal, interests and charges; the due dates of these payments are postponed until after the moratorium
- the guarantee fee for baby loans are released by the state for the duration of the moratorium
- the original tenor of the loan increases after the expiry of the payment moratorium, in a way that the sum of the instalments, due and the charges arising during the payment moratorium, will not exceed the amount of the installments under the original contract,
- so the principal debt cannot be increased with the unpaid interests under the moratorium. In that case, when your loan has a variable interest and in the meantime the reference interest or the interest rate change indicator changed, in this case the installment of your loan may increase due to the change in interests
- duration of the payment moratorium: 19 March 2020 – 31 December 2020
- contracts that would end during the period of the moratorium will be extended until 31 December 2020
- the payment moratorium takes effect automatically on 19 March 2020
- if you want to be part of the the payment moratorium, you have nothing to do
- even during the payment moratorium, you have the right to perform in accordance with the original terms and conditions of all or only each of the contract(s) specified by you at our bank.
- we would like to inform you, that as our bank has stopped paying the contractual installments by direct debit due to the payment moratorium, you must declare your intention to pay in order to resume collection
what is the moratorium payment?
Payment deferral is available until 31 December 2020 in the loan repayments. From the 18th day of March 2020, our clients will receive a deferral until the end of the year for the payment of the installments (principal, interests and charges), to the loan already paid out until 18 March 2020 at twenty-four o’clock.
should i make a statement if i countinue to pay my loans regularly?
It’s up to you to decide whether or not to take advantage of the moratorium. The Bank my provide considerations and information for reconsideration, but not advice.
We would like to inform you, that the transfer and payment according to the contract means to you – without any other active customer involvement – that you did not wish to use the payment moratorium about that loan which is transferred and paid in accordance with the contract, and the Bank has suspended the payment of the contractual installments, by direct debit during the payment moratorium, so you need have to declare to the Bank about the payment intention.
where i can declare that, i want quit from the moratorium?
You can read more detail here about the channels through which you can notify the Bank, if you still want to pay your loan on the contract.
do i get feedback on accepting a declaration of withdrawal from the moratorium?
If you call K&H Telecenter, we will record your request during the conversation. If you write a message in K&H e-bank or K&H mobile bank app services, we will reply to you in an electric message to your request has been recorded in our systems. You can find this automatically message in the K&H e-bank and K&H mobile bank messages menu.
what happens if i still need a payment moratorium later?
The statement of further fulfillment, may be modified any time during the payment moratorium.
Therefore, if you wish to fulfill accordance on the original contract, but later you change your decision and want to be part of the payment moratorium, you take this modification at any time during the moratorium period.
i have already declared that, i would continue to pay the loan, but the actual installment didn’t debit yet. The debit might be happen afterwards?
If the installment has not been deducted, due to an administrative error, the installment affected by the declaration will be debit afterwards on the original repayment date – if you have enough balance for this on your repayment account.
do i get feedback on accepting my statement?
In all cases, the Bank shall inform about the processing of the received the declaration:
- if you declare the statement in the K&H TeleCenter or any K&H branches, the recording take place during the conversation
- if you declare the statement in the K&H e-bank or K&H mobile bank in the loans menu, the fact of the recording will be posted on the interface
- if you declare the statement in the K&H e-bank or K&H mobile of the form of message, we will give feedback in a message about the recording state
- if you mail your statement, we will notify you by phone that the recording has been processed
what are the legal conditions for the transfer of date to the CCIS?
Act CXXII. of 2011 on the Central Credit Information System (CCIS Act) contains the legal conditions for the transfer data to the CCIS.
When you taking a loan from the Bank, the Bank is obliged to forward the data(s) to the CCIS which is related to the loan within five working days. If there is any change in the transmitted data(s), the affected data(s) must also be transmitted to the CCIS within five working days.
Based on section 11§ (1) of the CCIS Act the bank transfers to the CCIS the data(s) about the natural persons, who do not fulfill their contractual obligations in such a way that:
- the amount of their overdue and unpaid debts exceeds the amount of the minimum monthly wage in force at the time of delay, and
- the amount days of dept is outstanding for more than 90 days
Based on the 15§ (3) section of the CCIS Act, 30 days before planned the data transfer, the K&H Bank send a warning message to the debtor, due to she or he has an overdue debt, and her/his data will be entered in the KHR register, if the debtor does’nt settle in time the existing debt.
does the CCIS ensure that, the data is transparent?
If, due to late fulfilling payment, the data(s) transferred to the CCIS and thereafter:
- the debt is not terminated, as the general rule, the negative information remains in the CCIS for 5 years from the date of transfer,
- if you pay the debt, the negative information will be deleted from the CCIS after 1 year from the date of payment.
The information about the dept delay in the CCIS may impact negatively the evaluation of your possible new loan application.
how does the Bank handle delays in connection with the moratorium?
- if you haven’t been in delay about the intallments yet and have used the option od a payment moratorium, you cannot be registered in the CCIS due to unpaid installments during the period of the payment moratorium
- as long as the payment moratorium lasts (from 19 March 2020 to 31 December 2020), no new payment delay can be recorded in the CCIS on the basis of the loan agreements outstanding at 24.00 on 18.03.2020.
- to the contracts concluded and disbursed after 18 March 2020, are not subject to the payment moratorium, so in case of non-payments a new default can be recorded in the CCIS system.
- the payment moratorium also applies to the loan late debts to, due on 24 March 2020
- the calculation of the amounts and days of the debts has also been suspended for the period of the moratorium. These will not increase during the moratorium
- no further data related to omission is provided to the CCIS
- after the period of payment moratorium, the calculation of the amount of delay, interest on arrears and days of delay will continue
In the case of execution by direct debit, the minimum information to be included in the declaration of non-payment moratorium is as follows:
- personal data(s) necessary for identification: name, birth name, place of birth, date,
- contact information: telephone number, e-mail address,
- transaction details: contract number (s) found in the upper right corner of your loan agreement.
also, in the cases of home loans, babyboom loans, employer and personal loans, you can find the ID of the loan in the K&H e-bank loans menu.
In case of "declaration on the moratorium repayments" declaration block in K&H e-bank, it’s not necessary to fill out the above mentioned data(s) as K&H client identifies itself by logging into e-bank. On the interface, you have the opportunity to make a separate statement for each home loan, babyboom loan, employer and personal loan loan.