information regarding the repayment moratorium
- the payment moratorium will be applied automatically to existing loans as of 18 March 2020
- if you wish to continue to pay your loan repayments, please turn to our Bank
- if repayments get collected during the system transition period, our Bank will transfer them back by 1 April 2020 or until 17 April for small and medium-sized enterprises
Government Decree no. 47/2020. (III. 18.) and no. 62/2020. (III. 24.) has imposed payment deferral (payment moratorium), which means that the debtor receives a payment deferral from the fulfillment 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, as specified below
- 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 capital, interests and charges which not paid during the payment moratorium – together with the credit fees that arise during the moratorium – must be paid, after the moratorium.
the amount of installments to be paid after the expiry of the moratorium, will not increase due to the use of the moratorium option, which will be ensured by extending the original tenor beyond 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 installments due and the charges arising during the payment moratorium, will not exceed the amount of the installments under the original contract.
- the principal debt may not be increased by the amount of unpaid interest under the moratorium.
- 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; those who do not wish to be included in it, need to specifically state their intent to the Bank.
- 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 (Declaration).
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.