Information about the repayment moratorium

INFORMATION ON AGRARIAN MORATORIUM

Dear Client,

Please be informed that the Government of Hungary provides a moratorium for agrarian enterprises from 1. September 2022 until 31. December 2023.

The payment moratorium shall apply to loans already disbursed based on agreements existing on 31. August 2022.

A borrower can take part in the moratorium if

the ratio of his/her 2021 annual net turnover – calculated without the cost of goods sold – deriving from the sectors of crop and animal production, hunting and related service activities, forestry and logging, fishing compared to the 2021 total annual net turnover is at least 50% or
the purpose of his/her loan serves any of the sectors in section 1).

If you intend to use the payment moratorium You are required to make a declaration until 15. September 2022. You can do this in person in our branch office or on-line (via e-mail, electronic channel).

Submission by post is not acceptable.

Failure to meet the deadline for making the declaration renders the declaration null, and void.

We shall provide You with detailed information on our website regarding the conditions and method of making the declaration.

Yours Sincerely,

UniCredit Bank Hungary Zrt.

The Declaration

Withdrawal Statement

Additional information concerning the payment moratorium

It is important to note that the payment moratorium (or grace period for payment) does not mean that the client's payment obligation ceases, it is only postponed.

Interests and fees not paid during the moratorium period are not capitalised and do not accrue interest either during the moratorium or at the end of the moratorium, and must be paid in equal instalments with the remaining repayment instalments due over the remaining term. As a result, the total term of the loan increases, the maturity of the loan is extended by a higher extent than the period under the moratorium, and thus the total amount payable over the entire term also increases.

Dear Client!

Please note that the legislation* on the loan repayment moratorium has been amended by the legislator.

The moratorium has been extended for all eligible clients until 31 December 2022, upon the condition that that only those are entitled to remain in the payment moratorium whose credit was also covered by the moratorium in June. However, after that date, i.e. from 1 August, only clients will be able to benefit from the moratorium until 31 July 2022 the latest who requested this option.

If you are still entitled to the repayment moratorium from 1 August 2022 and wish to continue to benefit from this option, you must make a declaration to this end to our bank until 31 July 2022. After that date, a declaration to employ the moratorium will not be accepted.

If your loan is currently covered by the moratorium, it will automatically remain so according to the applicable law until 31 July 2022. (Unless you notify our bank about your intent to repay your loan).

The moratorium will expire on 31 July 2022 for those who are not eligible for the extension or do not wish to continue from 1 August 2022, i.e. do not apply for the extension. In these cases you have nothing else to do but to continue repaying your loan with the instalment due in August 2022.

You can withdraw from the moratorium at any time by clicking on the “Declaration on notification about repayment under the original contractual terms” form to be submitted to our bank. If you opt out of the moratorium, you will not be able to reverse this decision later.

Additional information concerning the payment moratorium

It is important to note that the payment moratorium (or grace period for payment) does not mean that the client's payment obligation ceases, it is only postponed.

In the case of retail loans/credit lines, our bank offers its clients the opportunity of paying (prepaying) all or part of the interest, fees and charges they have accumulated during the moratorium, free of charge.

However, the extended term after opting out of the moratorium does not automatically revert to the original contractual term if the total debt accumulated during the moratorium is repaid early. The amount prepaid reduces the amount of the monthly repayment instalment payable. In the event of the full repayment of the debt accumulated during the moratorium, naturally, clients may request the reduction of the loan term (even requesting the duration set out in the original loan agreement).

In order to reduce the extended term, customers can undertake monthly repayments higher than the post-moratorium repayment instalments. This is conditional on compliance with the legal requirements for the payment-to-income ratio, even in case of higher repayment instalments.

No bank fees are charged for the above agreement amendments requested by our clients until 31 December 2022. It is important to note that the notary public fee for mortgage loans is not a bank fee and, as such, in the case of an agreement amendment, the client is required to pay this cost to the notary public.

It is of paramount importance for our Bank that our clients are able to assess the future impact of the payment moratorium on debt service, that the majority of debtors currently under the moratorium resume repayment, and that only those who genuinely need the safety net of the moratorium take advantage of the extension.

With the intent of helping our clients make the above prudent and conscious decisions, the following example illustrates the financial impact of participating in the moratorium for an average mortgage loan.

The impact of the payment moratorium between March 2020 and June 2022 on the total amount repayable and the term in case of a HUF 15 million housing loan

Comment: The extension of the loan term also includes the 27 months under the moratorium. Source: MNB.

The impact of a payment moratorium between March 2020 and June 2022 on the total amount repayable and the term in case of a HUF 1.5 million personal loan

Comment: The extension of the loan term also includes the 27 months under the moratorium. Source: MNB.

Based on the above, the total amount to be repaid increases in excess of 10% for more than half of housing loan borrowers and in excess of 40% for more than half of personal loan borrowers.

Source: Magyar Nemzeti Bank: Report on the impact of the moratorium

https://www.mnb.hu/kiadvanyok/jelentesek/penzugyi-stabilitasi-jelentes/penzugyi-stabilitasi-jelentes-2021-junius

1st July, 2022

Yours sincerely,

UniCredit Bank Hungary Zrt.

* Government Decree 536/2021 (IX. 15.) on amending Government Decree 637/2020 (XII. 22.) on the introduction of special emergency rules for the loan repayment moratorium

Information for private individuals

Please note that the legislation on the loan repayment moratorium has been amended by the legislator.

The moratorium has been extended for all eligible clients until 31 October 2021, upon the condition that that only those are entitled to remain in the payment moratorium whose credit was also covered by the moratorium in September. However, after that date, i.e. from 1 November, only clients in priority social groups will be able to benefit from the moratorium until 30 June 2022 the latest who requested this option.

Between 1 November 2021 and 30 June 2022, the moratorium is open to those private individuals who

receive an old-age pension or a survivors' pension,
maintain a biological or an adopted child under the age of 25,
maintain a biological or adopted disabled child under the age of 25,
are expecting a child and have passed the 12^th week of pregnancy,
are jobseekers,
are public employees, and
whose household income has decreased permanently after 18 March 2020.

The extended credit moratorium is open to businesses whose net turnover from business activities has decreased by at least 25 percent in the last 18 months preceding the application and the business has not entered into a new contract for a preferential loan or credit for economic recovery between 18 March 2020 and the date of application.

The extension of the repayment moratorium is not available to consumers with credit agreements secured by securities (lombard loans), loan agreements secured by chattel mortgage and financial leasing agreements for the purposes of using a vehicle.

To employ the moratorium from 1 November 2021, you must have used the moratorium in September 2021 as well.

If, based on the conditions referred to above, you are entitled to a further extension of the repayment moratorium and you wish to continue to benefit from it after 31 October 2021, you must notify our bank in a declaration between 1 October 2021 and 31 October 2021. You can only submit your declaration using the form stipulated by law:

online in our eBanking internet banking system, using the form available with your specific loan, or
in person in our branches by filling out the Declaration on the use of the payment moratorium form.

If your loan is currently covered by the moratorium, it will automatically remain so according to the applicable law until 31 October 2021. (Unless you notify our bank about your intent to repay your loan).

The moratorium will end on 31 October 2021 for those who are not eligible for an extension or do not wish to continue from 1 November 2021, i.e. do not apply for an extension. In these cases you have nothing else to do but to continue repaying your loan with the instalment due in November 2021.

1 October, 2021

Yours sincerely,

UniCredit Bank Hungary Zrt.

* Government Decree 536/2021 (IX. 15.) on amending Government Decree 637/2020 (XII. 22.) on the introduction of special emergency rules for the loan repayment moratorium

Information for companies

Dear Client!

Please be informed that the Government of Hungary has extended the credit moratorium until 30 June 2022.

The conditions for employing the credit moratorium have been changed so that if your business is currently (in the month of September 2021) making use of the credit moratorium, you must declare between 1 October and 31 October 2021 whether you wish to continue using the moratorium (from 1 November 2021). You can do this either in person at our branch or online.

The 3^rd phase of the moratorium is therefore open to companies that

were covered by the moratorium on 30 September, 2021,
provided the Bank with a declaration between 1 October and 31 October, 2021 of the fact
- that the company's net turnover from its business activities has decreased by at least 25% in the last 18 months preceding the submission of the application and the company declares that it has the supporting documents or other conclusive evidences to justify this, and
- the company has not entered into a new contract for a preferential loan or credit for economic recovery between 18 March 2020 and the date of application.

Only those businesses may enter the 3^rd phase that have a net turnover from their business activity. Condominiums, foundations, churches and associations can not enter the 3^rd phase of the moratorium.

Budapest, 01.10.2021

Yours sincerely,

UniCredit Bank Hungary Zrt.

Dear Client,

According to applicable laws, the payment moratorium will continue automatically and with unchanged terms until 30 September 2021 to clients who already have loans disbursed until that date under contracts existing on 18 March 2020. These are regulated by Act CVII of 2020 on transitional measures for the stabilization of the situation of certain priority social groups and enterprises in financial difficulty and Government Decree 637/2020 (XII. 22.) on the introduction of special emergency rules for the moratorium on loan payments.

Clients covered by the moratorium on 31 December 2020 will automatically be entitled to step into the second phase from 1 January 2021, this means that there is no need to apply for moratorium separately or confirm one’s eligibility.

However, debtors who did not avail themselves of the payment moratorium in December 2020, i.e. have previously opted out of it, but wish to use it in 2021, must notify their bank in writing, by post or via the bank’s standard electronic channel. The same applies to those whose last repayment instalment of 2020 was due before December, provided that they did not avail themselves of payment moratorium on such due date by previously opting out of it, but wish to avail themselves of it in 2021.

Please note that private individual clients do not need to submit proof of belonging to priority social groups in this case either.

25 June 2021

Kind regards,

UniCredit Bank Hungary Zrt.

Information for private individuals

What do I need to do if I wish to take advantage of the payment moratorium as a private individual? What will happen after the moratorium?

If you have been in the moratorium on your December 2020 installment and wish to continue in 2021, you do not need to do anything. Following the first phase of the payment moratorium from 19 March 2020 to 31 December 2020, the second phase — between 1 January 2021 and 30 September 2021 — automatically entered into force; therefore, no further action is required from clients who wish to continue to use the deferred payment option.

Please note that if you have not availed yourself of the payment moratorium for your payment obligation due in December 2020 and you wish to enter the second phase of the payment moratorium in 2021, you must notify our bank in an advance declaration.

If you have payment protection insurance…

Please note that the payment moratorium does not apply to the premium of payment protection insurance covering personal loans and mortgage loans, which will remain payable throughout the payment moratorium in order for you to be eligible for the insurer’s benefits. The basis of the insurance premium — even in the case of deferred loan payments — is the monthly repayment instalment according to the loan agreement.

If you have payment protection insurance, please make sure to have sufficient funds on your account to cover the monthly insurance premium during the moratorium as well, and to report your insurance claims to the insurer in the case of an insured event within the deadline specified in the general rules of the Insurance Terms and Conditions.

If your mortgage loan is covered by property insurance…

You are not required to change the property insurance linked to the real estate collateral of your mortgage loan, or the assignment or lien clause thereof on account of the moratorium. The same applies if you use the deferred payment option for your credit/loan agreement and thus the term of your loan is extended. Insurance contracts are a separate contract category, concluded for an indefinite period of time, and therefore extension is irrelevant. The registration of an assignment or a pledger may be cancelled only based on an authorisation issued by the bank certifying repayment of the loan, authorizing cancellation of the registration.

After the moratorium

Principal, interest and fees not paid during the payment moratorium become payable in equal monthly instalments throughout an extended term following the moratorium. The sum of interests and fees accrued during the payment moratorium will be added to the monthly standard instalments in a way that the monthly repayment instalment must not exceed the monthly instalment amount set out in the original contract. To that end, the maturity period needs to be extended — to a period longer than that of the payment moratorium — and rescheduled.

Post-moratorium repayment instalments may only exceed pre-moratorium monthly repayment instalments if the loan has a variable interest rate and it increases on the closing date of the interest period during the moratorium.

We expect to notify you about the contractual terms amended — in accordance with legal regulations — on account of the first phase of the moratorium in writing in January 2021. We will also send a written notification of the contractual changes that take effect due to the second phase of the moratorium after its end, i.e. 30 September 2021.

In the case of overdraft facilities and credit cards, our bank offers a 24-month interest-free repayment schedule to its clients for the repayment of their interest debt accumulated during the moratorium. Our clients who wish to repay their accumulated debt on a different schedule are offered the following additional repayment options:

immediate repayment in a lump sum;
evenly distributed repayment of the interest accrued during the moratorium over 6, 12, 18, 30 or 36 months, depending on your choice.

If you have an overdraft…

For overdraft facilities, payment moratorium was available to our clients in a form where the client’s credit facility was reduced by the debt outstanding as at 18 March 2020, and at the same time, the Bank allocated the same outstanding principal amount to a dedicated technical account. Pursuant to the moratorium, this segregated portion of the loan is not reduced automatically by the instalments credited to the current account. The amount thus set aside will be re-allocated to the credit line on 1 October 2021; until then, our clients have no obligation to pay principal or interest on this portion.

However, please note that the segregated amount bears interest at the normal transaction rate of the overdraft facility and that the interest accrued during the moratorium must be paid in 24 monthly interest-free instalments starting from 1 October 2021. Our clients who wish to repay their accumulated debt on a different schedule are offered the following additional repayment options:

immediate repayment in a lump sum;
evenly distributed repayment of the interest accrued during the moratorium over 6, 12, 18, 30 or 36 months, depending on your choice.

Thereafter, the credit facility remaining after allocation can be used as a standard overdraft facility, which — according to the laws — does not fall under the scope of the moratorium. Thus, the availability of this facility is conditional upon payment of the interests and fees specified in the contract, and clients will be required to comply with their monthly crediting obligations for the full amount of the credit facility in accordance with their overdraft facility contract.

What do I need to do if, as a private individual, I wish to continue to pay the instalments of my loan?

If you did not avail yourself of the moratorium on your instalment of December 2020 and wish to continue so in 2021, that is, you wish to repay your loan as before, then all you have to do is making sure that you have the necessary funds on your repayment account. In this case, the declaration of opt-out of payment moratorium remained in force for the second phase from 1 January to 30 September 2021 as well.

You may find out more about the last instalment paid prior to the moratorium from your loan contract or — if there has been a change in the instalment since the contract was concluded — from the last loan statement sent by us, or via the Internet banking service or the telephone customer service.

For credit cards, you may opt out of the moratorium simply by paying the full debt outstanding on 18 March, i.e. without submitting a declaration to that effect. The only case when a declaration is required is when you do not wish to pay your full credit card balance of March 18 at once.

If you have a loan combined with a “Fundamenta Lakáskassza” prior home savings fund, you may read more in our reply to the following question.

What do I need to do if, as a private individual, I wish to continue paying the instalments of a loan combined with a “Fundamenta Lakáskassza” prior home savings fund?

If you choose not to make use of the moratorium and intend to repay your loan combined with a “Fundamenta Lakáskassza” prior home savings fund in accordance with the original terms and conditions, you must make a statement and submit it to our bank. Please remember that by filling in and submitting the declaration, you agree to continue to pay the interest and other fees of the loan, as well as the monthly savings payable to the “Lakáskassza” fund.

If you did not use the moratorium in December 2020, i.e. you paid your loan according to the original terms and conditions already at that time, and do not intend to change this in the future, either, all you need to do is making sure that the necessary funds are available on your repayment account.

If you have a loan combined with a prior home savings contract and going forward, you wish to pay only the savings portion of the loan while opting for the moratorium with respect to the payment of interests and other fees, you do not need to report it to us. You must notify Fundamenta-Lakáskassza Zrt. about your choice to continue payment of your savings.

If you refuse to take advantage of the payment moratorium at UniCredit Bank (payment of interest and other fees), but you do want to use it in respect of your prior home savings contract payable to Fundamenta-Lakáskassza Zrt., please note that in this case the amount of savings required for repayment of the principal is not accrued until the original maturity of your loan. Therefore, to be able to repay your loan at the contractual maturity, you will need to repay the remaining amount from other sources or the term will be extended.

What else do I need to know if I have Payment Protection Insurance?

The payment moratorium does not apply to the monthly premium of the payment protection insurance. This means that in order for the insurer to continue to cover your mortgage and/or personal loan and remain liable for providing an insurance service to you, you need to continue paying the monthly insurance premium even during the period of the moratorium. The second phase of the statutory moratorium lasts from 1 January 2021 to 30 September 2021.

The basis of the premium payable for insurance services — even in the case of deferred loan payments — is the monthly repayment instalment according to the loan agreement.

If you choose to take advantage of the statutory payment moratorium, the premiums payable for insurance services will be charged monthly, by derogation from the provisions of the Insurance Terms and Conditions, on the 25^th day of the month following the subject month.

If you do not wish to avail yourself of the statutory payment moratorium and are making repayments according to the original terms and conditions, your account will be charged with the insurance service premium, together with the instalment, on the original repayment date stated in your loan agreement.

To maintain your insurance cover, please make sure that sufficient funds are available on your bank account.

Please note that if you took out a payment protection insurance as a prerequisite for eligibility for discounted interest rates on your mortgage, we will start to charge the standard non-preferential rates if you cancel such insurance or fail to make the insurance premium payments during the moratorium. However, you only need to pay the interest after the moratorium.

Please make sure to report to the insurer every occurred insured event during the moratorium as well, in accordance with the Insurance Terms and Conditions and the Product Information Brochure. You may do so at the insurer’s online customer service (www.generali.hu) or by downloading a service request form from its website and sending it to its address at H-7602 Pécs Pf.:888 or by fax to 06-1-451-3857; you may also report claims in person at the customer service points of the insurer.

The documents relevant to your payment protection insurance are available on our website (www.unicreditbank.hu) on the Payment Protection Insurance page, at the bottom of the subpages Payment Protection Insurance for Mortgage Loans and Payment Protection Insurance for Personal loans, under the Related documents menu.

How can I submit my declaration?

I. Individual clients of UniCredit Bank choosing not to take advantage of the payment moratorium may submit a declaration to that effect:

via the eBanking internet banking service, by completing and submitting the opt-out form entitled “Declaration on opting out of payment moratorium”. The declaration can be accessed by logging on to the eBanking service as usual:
on the main page, by selecting the loan or the current account for which you would like to make your declaration; or
in the Lending menu on the “My Loans” page or on the “Banking” tab.
by calling our telephone customer service at 061/20/30/70-325-3200 between 8:00 a.m. and 6:00 p.m. on banking days. To reach the menu for information on the payment moratorium press 9, then press 1 in our telephone system.
You can also submit your declaration by mail to the following address: UniCredit Bank Hungary Zrt., 1054 Budapest, Szabadság tér 5–6.

Click here for a detailed guidance on how to complete your declaration form in eBanking.

Our clients can opt-out of the moratorium for all of their loans by a single declaration, or they can indicate the relevant loans one-by-one.

If you made your monthly payments by a direct debit order in the past, please note that we have suspended instalment payments by direct debit on account of the payment moratorium; therefore, to resume direct debit, you need to inform us on your intention to continue your repayments.

II. Individual clients of UniCredit Bank choosing to take advantage of the payment moratorium can submit a declaration to that effect:

via the eBanking internet banking service, by filling in and submitting the form entitled “Declaration on opting back in to payment moratorium”. The declaration can be accessed by logging on to the eBanking service as usual:
on the main page, by selecting the loan or the current account for which you would like to make your declaration; or
in the Lending menu on the “My Loans” page or on the “Banking” tab.
by calling our telephone customer service at 061/20/30/70-325-3200 between 8:00 a.m. and 6:00 p.m. on banking days. To reach the menu for information on the payment moratorium press 9, then press 1 in our telephone system.
You can also submit your declaration by mail to the following address: UniCredit Bank Hungary Zrt., 1054 Budapest, Szabadság tér 5–6.

Click here for a detailed guidance on how to complete your declaration form in eBanking.

In connection with the above, please disregard our letter of 15 December 2020 on the “Schedule for the repayment of interest accrued during the Moratorium”, if you have received any.

What should I do if I opted out of the moratorium in 2020 but I would like to opt in now or at any time until June 30, OR wish to use it again?

Please note that if you have not availed yourself of the payment moratorium for your principal, interest and fee payment obligation due in December 2020 but you wish to use it in the second phase, then — due to legal requirements — you must notify us of your intention by an advance statement, via electronic channels or in writing.

If you are currently under moratorium and subsequently opt out, but any time later — during the statutory period thereof — you decide that you wish to continue using it, you have the right to do so at any time without making another declaration to that effect; you may suspend the repayment of your instalments at any time. If you discontinue your transfers and payments, or if you have insufficient funds on your account to cover the instalment in the case of direct debit orders, this means that you re-enter the payment moratorium automatically without being in payment default, and thus, without the legal consequences thereof.

However, given that your instalments are repaid directly from your bank account (except for credit card debts settled by means other than direct debit) where your other day-to-day payments are transacted, for the sake of clarity and to enable us to manage your finances as smoothly as possible, we kindly ask you to notify us, if possible, of your intention to suspend the repayment of instalments.

You can notify us via the eBanking internet banking service, by filling in and submitting the form entitled “Declaration on opting back in to payment moratorium”. The declaration can be accessed by logging on to the eBanking service as usual:

on the main page, by selecting the loan or the current account for which you would like to make your declaration; or
in the Lending menu on the “My Loans” page or on the “Banking” tab.

You can also make the declaration:

by calling our telephone customer service at 061/20/30/70-325-3200 between 8:00 a.m. and 6:00 p.m. on banking days. To reach the menu for information on the payment moratorium press 9, then press 1 in our telephone system.
You can also submit your declaration by mail to the following address: UniCredit Bank Hungary Zrt., 1054 Budapest, Szabadság tér 5–6.

Repayment instalments falling due after your notice will be repeatedly covered by the legal moratorium.

Data transfer to the Central Credit Information System (“the KHR”) on overdue credit transaction and changes during the period of the payment moratorium

If our clients default on their contractual obligations and the amount of their overdue and outstanding debt exceeds the applicable monthly minimum wage in effect at the time of default (i.e. HUF 161,000 in 2020) and this delay is sustained for a period of over 90 consecutive days, in accordance with the provisions of Act CXXII of 2011 on the Central Credit Information System (“the KHR Act”), the Bank shall forward the following data to the KHR:

client identification and contract details;
details of the default and its status (the date when the debt falls 90 days past due, the amount of debt overdue and outstanding on that day, the date when the overdue and outstanding debt is liquidated and the mode of settlement, an indication of whether the debt has been assigned, reference to any lawsuit pending).

30 days prior to the planned data transfer, we inform our clients in writing that unless they satisfy their contractual obligations, the above data will be recorded in the KHR (hereinafter: “30-day prior notice on data transfer”). Our clients may settle their debt even after the receipt of the notice: if a client pays his/her debt before the expected date of the data transfer specified in the notice, (s)he can avoid such data transfer to the KHR.

As a result of the data disclosure — if the debt is still unpaid — details of the client’s default shall remain in the KHR for a period of 10 years from the date of data transfer, and during this period, such data can be used for the assessment of creditworthiness even without the client’s consent. If an outstanding debt is settled (repaid), the data shall remain in the KHR for a period of 1 year from the date of repayment.

In the case of contracts covered by the moratorium, the above rules are modified for the duration of the payment moratorium as follows:

the number of days past due does not change during the period of the payment moratorium; accordingly, if our Bank has sent out the 30-day prior notice on data transfer before the start date of the moratorium (19 March), the notice shall become null and void if such 30-day term would have expired after the entry into force of the moratorium (i.e. during the period of the moratorium); moreover, we will not dispatch such notice during the period of the moratorium.
after the end of the payment moratorium, the number of days past due shall be recorded in the same way as before the payment moratorium, resuming at the number of days of default existing on the day when the payment moratorium was announced (in other words, the duration of the payment moratorium shall not be taken into account for the purposes of the 90-day period);
if our client’s debt reaches the applicable monthly minimum wage in effect at the time of default after the end of the moratorium and the number of days past due calculated as above reaches 90 days, we shall transfer his/her data to the KHR (in accordance with the KHR Act);
our bank shall notify the client 30 days prior to the planned data transfer.

Overdue debts and the moratorium

We offer the payment moratorium in accordance with the laws for the duration of the moratorium; therefore, monthly payments becoming due but unpaid during this period shall not be regarded as overdue debts.

Client having any overdue debts at the start of the moratorium will not be liable for default interest on such overdue debts and no other legal consequences of the delay shall be applicable. However, such clients shall pay the contractual transaction interest on the principal outstanding for the default period. During the payment moratorium, we calculate and record such interest, which becomes due after the statutory period of the moratorium ends.

Nevertheless, our clients have an option to settle their overdue debts at any time even during the period of the payment moratorium.

For other useful information on overdue debt, please click on the following link to access the “Repayment Difficulties” section of our website:
https://www.unicreditbank.hu/hu/rolunk/hasznos_informaciok/torlesztesi_nehezsegek.html

Information for corporate clients

The payment moratorium will continue only to loans disbursed under credit agreements that were concluded and disbursed until 18 March 2020 and are still in force.

The loan payment moratorium has no impact on the right of companies under moratorium to perform their obligations according to the original terms and conditions; accordingly, you may still unilaterally declare your intention to opt out of the moratorium.

You can withdraw your unilateral opt-out declaration at any time until 30 September 2021, thereby opting back into the moratorium. Withdrawal of your declaration can be done by free-form mail by post or via the Internet banking system.

Modification of the payment dates of loan agreements under moratorium also modifies the ancillary and non-ancillary collaterals securing the loan agreement under the Hungarian laws (such as the contract of pledge, suretyship contract, guaranty contract, declaration of guaranty), regardless of whether the ancillary obligation has been executed as a contract or as a unilateral juridical act by the parties. Notarial deeds are not required to be modified.

If you have any questions about the moratorium, please reach out to your referent person.

We are updating our notices with the latest and most important information to know about the payment moratorium on a regular basis.

Learn more about our temporary relief measures introduced in lending to alleviate the negative impact of the COVID-19 pandemic.

25 June 2021

Kind regards,

UniCredit Bank Hungary Zrt.