what credits you can request a deferment?
the Law applies to all types of credit products, but they have different limits, and they come from in order to help the least protected strata of the population: the mortgage – not more than 1,5 million roubles (the government is discussing raising the bar for Moscow, St. Petersburg and Far East regions);
auto loans – not more than 600 thousand rubles.;
consumer loans – not more than 250 thousand rubles (for individual entrepreneurs – not more than 300 thousand);
credit cards – no more than 100 thousand.
My credit more. What to do?
Threshold mortgages for vacation credit may increase in some regions
For the suspension of mortgage payments you can use the law on mortgage holidays – it the limit of 15 million rubles., the rest of the conditions are similar, says the expert of the National center for financial literacy, consultant, project verifikasi.Russian Anna Zaikin. The main thing that the borrower has not used the law on a mortgage vacation.
the Most important thing – when the first “symptoms” of insolvency should contact the Bank that advises Anna Zaikin. If the borrower will be supported by the application documents about a difficult situation, the lender probably will go to meet him, and it is possible that such restructuring on the terms and conditions of the Bank will be borrower to be more acceptable than deferred payment on condition of the law about credit vacation.
But credit card usually, a Bank restructuring program are not included, said the lawyer, the expert projects “Finsac” and “Zhilfin” Olga Dayneko.
I Have a lot of credits. How to be?
a Delay can take all the loans simultaneously, or individually, specifies Anna Stutterersin. It is important to keep in mind: in most banks, when you receive a vacation credit for one of the loans credit card issued by the same Bank, is frozen for the entire period of vacation. To use it will not work, and to pay for it will have.
Break – is it free?
vacation Credit is not debt forgiveness, moreover, during the grace period continue to accrue interest, and overpayment on the loan in case of withdrawal of the borrower for the holidays is growing, says Olga Daineko. For each type of loan products has installed the mechanism of interest accrual during the grace period and the features of their payments after the holidays.
the Government has restricted the amount of loans to defer payments
Consumer loans – interest is charged at a concessional rate, is 2/3 of the average market rate for similar loan (calculates the rate of the Central Bank of the Russian Federation). For example, for POS loans, the figure is now depending on the amount of 12.5 to 17.5%. After the grace period the borrower returns to the payment schedule, and upon completion of repayment of the loan pays out accrued vacation interest monthly payments, the value of which is equal to the monthly loan payments. In fact, the interest is transferred to the end of the payment schedule.
Mortgage loans – interest is charged at the rate in the contract. Not paid during the grace period, payments of principal and interest payable after repayment of the loan in monthly installments, the value of which is equal to the loan payments. The term of the loan extended grace period.
Credit cards after the holidays to monthly payment immediately added coming up for the holidays interest to pay the they need within 24 months pdonkey holidays. The credit card limit at this time is reduced by the size of these liabilities.
Banks collect the documents yourself?
the Bank requests data on the income of the borrower FIU and the FTS, and only if the lender is no technical possibility to use the system of interdepartmental electronic interaction, information the borrower must provide himself. According to Olga Dayneko, it is possible to use the following documents:
help 2-NDFL or the inquiry on incomes in the free form;
sick leave with COVID-19 or marked “03-quarantine” (for those who returned from other countries);
help from the hospital with a confirmed diagnosis;
help (order) on leave without pay from the employer;
help from the job centre about registering as unemployed.
the Bank may request other documents, for example, an extract from the egrn Declaration IE.
How does the Bank makes the decision?
the Law gives the right to delay payments if the borrower’s income for the month preceding the date of application, has decreased by at least 30% compared to the average monthly income in 2019. That is, if the borrower has lost revenue in April, he will be able to apply for vacation credit only in may. Rules for calculating the average monthly income set by the government: the lender eliminates two calendar months with the highest and two calendar months with the lowest payments that are received by the borrower in 2019, and then divides the sum of the payments in the remaining months on their number.
Russian farmers will support preferential loans
To receive vacation credit need to apply to the Bank until September 30 (it is possible that this period will be extended later). In conditithe third universal isolation law allowed to do that just by phone or through the online services of the Bank. The Bank has only five days to the decision. If the Bank 10 days there is no response, the borrower automatically enters a grace period.
If the application is submitted remotely, the law allows to submit supporting income drop original documents much later – within 90 days after the application, and for good reasons (e.g. illness), also documented by the borrower, the Bank may extend the deadline for submission of papers for another 30 days.
the Bank says in documents doesn’t add up. What now?
If the documents are not provided or they are not true, all accrued payments are restored at the same time and they added together the fines and penalties for late payment. In addition, in this case, the information about the delay falls in the credit bureaus. So you should not delay the transfer of the original documents on the 89th day after the statement: if we are going to have the Bank’s refusal, it is better as soon as possible.
Vacation you can take for a period of from 1 to 6 months. It is better to take the maximum?
it is Better to choose from 6 months from vacation, you can unsubscribe at any time or you can repay the loan fully or partially, without disrupting the validity of the vacation. If you have the opportunity to pay a feasible amount to the lender during the grace period, these payments will be made to reduce the principal on the loan, which will reduce the amount of interest charged and facilitate the completion of the final payments on the loan after the grace period, advises the Bank of Russia.