Postponement of loan instalments possible for up to 9 months

Postponement of loan instalments possible for up to 9 months

Parliament has approved a bill introducing the possibility of postponing loan instalments by private individuals and small and medium-sized enterprises for nine months at most, with banks being obliged to comply with their requests, as part of the state's coronavirus-related economic measures. Nevertheless, the debtors will then have to somehow settle the unpaid sum, said Finance Minister Eduard Heger (OLaNO), adding that they can either ask for an extension of the overall payment period, or continue with the same period and arrange with their bank to pay higher instalments, thus paying off their loan by the originally agreed date.

Moreover, private individuals will be able to ask for a postponement of leasing payments for three months due to the coronavirus, and if the crisis continues, they'll be able to do so one more time, said Finance Ministry State Secretary Marcel Klimek after talks with representatives of leasing companies on Tuesday.

Romana Grajcarová, Photo: SITA

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