Offer for retail clients
OFFER FOR RETAIL CLIENTS
Taking into account the effects of the COVID-19 for retail clients with credit exposure, who maintain business relationship with the Bank, which by 29.02.2020 were classified as A, B, C (regular status) the Bank proposes the following offer to change contractual terms for use of the lending products valid in the following 10 days with the following characteristics:
- For retail clients using installment loans (such as: housing, consumer and car loans) the Bank shall proceed to implement delaying of repayment of all credit facilities for a period of 6 months and extension of the due date for an additional 6 monthly installments. Interest will continue to be calculated during the period of delayed payments, using the valid respective interest rates. Principle, interest and expenses due, but not paid before the delaying period begins, will be regulated at the end of the 6 months period by spreading out over the new extended maturity/period of the product.
- For retail clients using revolving lending products (Visa/MasterCard credit cards or MyCash), the Bank shall proceed to implement delaying of repayments for a period of 6 months. Regular interest for the said period shall be calculated, using the valid respective interest rates, however it will be due after the end of the delay period.
- Clients that using overdraft to their current accounts, the Bank offers renewal for all overdrafts that expire before 30.09.2020 and during that time the approved amount of the overdraft shall not be subject to change.
Technical clarifications regarding the offer
- Clients which wish to make payments until 30.09.2020 to their VISA/MasterCard or My Cash account (although they are not obliged to do so) can make the payments voluntarily as they considered appropriate which , and will reduce their outstanding debt. We recommend that these payments be performed via e-banking, m-banking or ATM payments.
- For clients using VISA/MasterCard or My Cash with registered standing order of 100% monthly repayment – we inform them that the payments will continue to be executed, however they have the option to recall the standing order at any time without extra charge using the 24/7 Contact center (02)3100 109 or email@example.com
- For all of these product categories, clients that wish to stay with the existing status, with to continue repayment SHOULD inform the Bank within 10 days IT IS MANDATORY for clients that DON’T AGREE with the Banks offer for one or more of the lending products they use and wish to continue their regular repayment during the said period TO INFORM THE BANK electronically via firstname.lastname@example.org or by calling the 24/7 Contact center (02)3100 109 no later than 10.04.2020 by 23:59. We recommend that the clients address the bank via email because of busy phone lines. Not responding to the offer is considered acceptance of the offer. Clients that wish to inform the bank via email should use these information:
- Full Name/Surname
- Date of birth
- Lending product registration number (Number of contract) for annuity type of loans or number of the account linked to the revolving product (Visa/MasterCard/My Cash)
- Statement to declare that the client is willing to continue servicing the debt from the provided lending products with the regular dynamic prearranged with the existing contract, without the use of the delayed payments offer.
- IMPORTANT NOTICE: Clients that CONSENT to using the offer for all lending products they use SHOULD NOT send emails, contact the Bank branches or write letters to the Contact center. The articles 1 and 2 of this offer will be applied only in case the CLIENTS DON’T ADDRESS THE BANK and with that by 11.04.2020 the new terms and conditions provided by the offer begin to apply.
In case these clients later decide to refuse the offer (by contacting the Bank in writen via e-mail to email@example.com) and are prepared to continue regular repayment of their debt, the Bank shall accept their request and terms will be additionally arranged.
- Client using multiple lending products CAN REFUSE THE OFFER for one or more of the products they use, while for the lending products that the client has not mentioned in their address to the Bank (in written via email or by calling the Contact Center telephone) during the deadline using the above mentioned channels, it would mean that the offer is accepted and the Bank shall go forth in executing the offer in accordance to articles 1 and 2 of this offer.
For clients that have refused the Offer, if in the coming period, they face difficulty and wish to begin using the benefits of the offer to change the terms of their contract for the lending products, the Bank is going to come forth and accept, and the terms will need to be agreed separately.
Legal effect of the offer:
- According to the Decree with the force of Law for methods of altering contractual lending exposure terms for banks and saving houses (Official Gazette no. 80 from 30.03.2020) when executing the delayed payments and extension of the due date of the lending products in accordance to articles 1 and 2 of this offer, amended terms produce legal effect towards client, the solidarity debtors and the mortgage debtors without concluding a new agreement/annex to the agreement.
- At the same time, the legal effect of the amended terms of this Offer is valid for all contractual accompanying documentation, all notarial documents and collaterals without entering into new agreements/annexes to existing agreements, notarial documents and other collaterals, as well as without change of data already recorded in public books and registers.
- For lending products with established standing order, the Bank shall place the standing orders in pause.
- The offer is integral and is valid only with cumulative acceptance and implementation of all above mentioned terms for each individual lending product
- All other contractual terms from the existing contracts for lending products, not addressed in this offer remain valid until the end of the contract.
These measures are significant and they refer to the ones most affected by the crisis, and this is why the Bank is asking all the clients who remain able to continue repaying their obligations to do so. By doing so, they actually help the economic measures undertaken by banks and the state are effective for those in need and, more importantly they contribute to the faster recovery of the economy after the crisis.
The offer prepared by Stopanska banka AD – Skopje is in compliance with the Decree with the force of Law for methods of altering contractual lending exposure terms for banks and saving houses (Official Gazette no. 80 from 30.03.2020) as well as the Decision on amending the Decision for the methodology on risk management of NBRSM (Official Gazette no. 76/20 from 24.03.2020)
Stopanska banka AD – Skopje
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