Possibility to defer repayments of loan products
Postponement of installments for customer and mortgage loans
We are not indifferent to the current situation. We respond to the adoption of the Act on the deferral of mortgage and non-purpose loan repayments.
You have the option to postpone your loan repayments for 1 - 9 months. You can request a delay at any time during the duration of the pandemic.
In this confusing situation, we want to give you all the information you need to make a good decision.
The law is intended to protect those who have suffered most during the pandemic. However, as our client, we recommend that you consider the delay carefully.
The law stipulates that your loan will be remunerated during the deferral period. This means that it will be overpriced for interest for the grace period.
Deferrals of repayments, in accordance with the Lex Korona Act granted by the bank until 31 March 2021, will not affect the credit quality (creditworthiness) of the client. Such a deferral will not affect the possibility of drawing on a new loan after the deferral has ended. This procedure is determined by a guideline issued by the European Banking Authority (EBA) on rules for the assessment of clients who have requested a deferral of payments during a pandemic.
Following the expiry of this EBA Guideline and under the current Lex Korona Act, banks will consider possible defaults, impaired borrower quality and deferred payments for the purposes of the electronic register of consumer credit data when deferring payments allowed after 1 April 2021, which may have an impact on the provision of additional loans in the future.
Should you even consider delaying?
A deferral is particularly worth considering if:
- You work abroad and have lost your job as a result of a pandemic.
- You have lost all revenue, respectively. more than half.
- You expect to lose income for a longer period.
- Due to a pandemic, you do not have a reserve of at least 3 months' income.
- You take benefits (sickness/social) as income compensation and are not sufficient to cover your loan repayments.
You can express your interest in deferral of payments via your mobile application Tatra banka or Internet bankingTB by clicking on "Call me".
Don't have the Tatra banka mobile app or Internet bankingTB? Deferred payments can be requested via DIALOG Live or directly at the branch. In the current situation, we recommend using a digital channel to communicate with the bank.
Frequently asked questions
In the Tatra banka mobile application or in the Internet bankingTB, in the section "Request for deferral of repayments", it is possible to express your interest in deferral of loan repayments by clicking on "Call me" and we will contact you as soon as possible.
Deferred payments can be requested via DIALOG Live or directly at the branch. For each loan for which you request a deferral of repayments, the request for deferral must be submitted separately. Requests for deferral of repayment of your loans can be submitted at different times. The deferral period can be chosen differently for each loan.
Any debtor or co-borrower may submit a request for deferment of installments.
It is not necessary to submit any documents or other additional information to the application.
The application is free of charge for a change in the loan.
The sample form is available on the Tatra banka website or at any branch.
At any time during the postponement of installments, the client may resume repayment of his loan, thereby canceling the postponement of installments. Client must inform the bank of their interest in repaying through DIALOG Live or a branch. The client shall agree with the bank on the continuation of repayment.
The postponement of repayments may not be permitted by the Bank if the loan for which the repayment is requested also includes other repayments more than 30 days prior to the date of submission of the application, or if the client is in default on 29 February 2020 repayment of the loan for more than 30 days at least 100 EUR, or at the date of submission of the request for deferral of installments in the state of failure according to a special regulation.
The repayment deferral shall also apply to the delayed repayment, however, not more than 30 days before the request for deferment is submitted. In this case, the grace period shall commence from the date on which the repayment was due. If there are no outstanding installments on the loan, the deferral shall commence from the date of the next installment after the submission of the deferral application.
Repayments delayed more than 30 days prior to the submission of the application will also be deferred, but only if the statutory requirements are met.
The deferral of installments shall begin on the first unpaid installment nearest to the date of submission of the request for deferment of installments.
Applications will be considered only in the light of the legal possibilities under which the Bank is not obliged to authorize the application for deferment of installments. Other conditions will not be considered.
The application will be reviewed immediately after submission, but no later than 30 days after submission.
We will consider requests for deferment of installments individually with respect to the client's requirements
After the submission of the application for the payment postponement from the bank via the Tatra banka mobile application or Internet bankingTB or other set communication channel, the client will receive the postponement setting, the start of the postponement of payments and all necessary information.
In case of other questions, it is necessary to follow the website of Tatra banka, where we will regularly add answers to frequently asked questions.
Repayment deferrals can be applied to all loans with a consumer contract (Consumer loanTB, installment loan GarantTB), a home loan agreement or another consumer loan agreement (Mortgage Loan, MortgageTB, American Mortgage) that fulfills the same purpose as a loan agreement and a credit agreement, which is a loan repaid on a regular, pre-determined basis.
The repayment of installments can be applied to all loans with a fixed monthly installment, including loans with state contributions for young people. The deferral of installments does not affect the entitlement to the state contribution for young people.
It is preferable for the client to repay the loan properly if the situation permits, as it will pay interest also for the grace period.
If the current financial situation is deteriorated due to measures during the pandemic and the client does not have sufficient funds, he / she can use the deferred payment.
If a client is allowed to postpone installments and wishes to start repaying the loan (even partially) during the postponement period, he / she must inform the bank, canceling the postponement of the installments and agree with the bank on a further postponement of installments.
The deferment of installments will be provided for the whole amount of principal and interest on regular monthly installment, so-called. complete deferral of installments.
The remaining amount due after the expiry of the deferral shall be paid in annuity installments while maintaining the original amount of the installment. The duration of the loan shall be extended accordingly. Interest on the repayment period is added to the remaining loan repayments due after the repayment period has expired.
If the loan is insured for the ability to repay the loan, premiums will continue to be settled at the same amount and in the contractually agreed period prior to deferment of installments.
The client may request a deferral of payments at any time from the effective date of the law regulating the deferral of installments until the end of the pandemic. As the emergency situation persists and the Lex Corona Act continues to apply, clients who have not yet requested a statutory deferral may request a one-off deferral of loan repayments during the pandemic period
The client may request a deferral of payments in accordance with the legal regulation regulating the deferral of payments during a pandemic only once in relation to one loan, and in case of continuing problems with loan repayment after the end of the statutory deferral, the bank will approach each individual client who requests it and he will try to find a suitable solution for him.
The state of the pandemic is linked to the declaration of an emergency situation declared from 12.03.2020 until the end of the calendar month in which the government cancels the emergency situation.
The length of the deferral can be up to 9 months and the permitted deferral of installments will last even after the end of the pandemic, i. e. you can defer the installments for up to 9 months on the last day of the pandemic.
Deferred repayments shall not be deemed to be delayed, nor shall those deemed to have been paid in due time if included in the deferment of repayments.
If you are allowed to postpone installments based on an agreement with a bank concluded before the new Act on Postponement of Payments becomes effective and you request a new postponement of installments, you must cancel the original postponement.
If you got into a bad financial situation and you are not or will not be able to meet your obligations to the bank in the near future, you can ask the bank to restructure your loan.
With the help of restructuring, the bank will enable you to overcome a temporary lack of funds - by changing the original terms of the loan agreement.
With restructuring, you get a partial reduction in repayments for a certain period, but not a complete deferment of repayments.
The following restructuring options exist:
- temporary reduction of repayments with a shift in the date of the last loan repayment
- temporary reduction of installments without shifting the date of the last installment of the loan
You can apply for restructuring if you are already or are not yet in arrears - at a bank branch or by phone at tel. number 02/5919 7777.
Your request for restructuring will be assessed by the bank and we will inform you about the approval or rejection within 30 days of submitting the request.
After assessing your restructuring request:
- the bank will send all documents to the document box in the Internet banking/mobile application, or to the bank branch of your choice
- the bank have the right to block the credit card of all participants in the credit relationship (borrower and co-borrower)
Information on the provision of restructuring is reported to the credit register, which may have an impact on the provision of additional loans in the future.
They will gladly provide you with more detailed information about loan restructuring at any branch of the bank, or you can inquire by phone via the DIALOG Live service, at tel. number 02/5919 1000.
Sample application for deferral of installments of loan products - for natural persons (only available in Slovak language).
Credit cards
If you own a credit card, then in connection of installments deferral enabling of your other loans (e.g. consumer loan or mortgage) we will not block this card and you will be able to continue using.
Payments deferral does not apply to the credit card.
Make your credit card repayment easier:
You only need to pay 5 % of the outstanding amount per month.
- Set it up easily in the Tatra banka mobile app. Click the "Cards" section and select "Credit Cards" and click on Card Detail. Click the "More options" box, select "Automatic payment" and enter "Edit". Now just click on "Total amount owed", select "Minimum installment" and confirm.
Postponement of loan products repayments for small entrepreneurs* and natural persons - entrepreneurs
We are not indifferent to the current situation and therefore we are responding to the adoption of the Act on the deferral of repayment of business loans.
Under the new Act no. 67/2020 Z.z. providing for a deferral of installments related to the pandemic period effective from 09/04/2020, a maximum of 9 months may be postponed by a small entrepreneur* and natural person - entrepreneur.
If you, as our client, expect to have difficulty repaying due to a coronavirus pandemic, you can request a deferred repayment of your business loan using a simple form.
In this confusing situation, we want to give you all the information you need to make a good decision.
The law is intended to protect those who have suffered most during the pandemic. However, as our client, we recommend that you consider postponing to avoid raising interest. This is because the law stipulates that your loan will be remunerated during the deferral. This means that it will be increased by interest for the grace period.
Filing an application for deferral
We want to make it as easy as possible for each of our clients to fill in and submit requests for deferred repayment. Do not hesitate to contact your relationship manager by phone, who will go through the application process with no personal visit.
If you do not have a relationship manager, please contact us via DIALOG Live at *1100 (phone number 0800 00 1100) or request a deferral by filling in the form by e-mail to business@tatrabanka.sk (email address is valid only for legal entities and entrepreneurs) ) from the contact email you provided to your bank.
You can request a delay at any time during the duration of the pandemic. This means that you can think carefully about the decision and ask for a postponement only when your financial situation inevitably requires it.
The bank has the right not to grant a deferral to the client if:
- the client is in delay with the repayment of the given loan more than 30 days before submitting the request for deferment of repayment of the loan,
- as of 29 February 2020, the client was in default of a loan repayment of more than 30 days of at least 100 EUR for another client loan,
- the client was in a state of default at the date of filing the application for deferral of loan repayment according to a special regulation,
- the application for deferment of the repayment of the loan is not duly completed; or
- the application for deferment of the repayment of the loan does not contain the requisites according to the model given in Annex no. Of Act No. 67/2020 Coll.
Sample application for deferral of repayments of loan products - for small entrepreneurs* and natural persons - entrepreneurs (only available in Slovak language).
Tatra banka does not charge any fee for postponing installments or change the interest rate on the loan.
Frequently asked questions
The client has the choice whether to postpone the entire monthly installment, including the principal and interest, or to postpone only the principal and the interest will continue to be paid. It depends on the client's current financial situation.
The deferral of installments shall also apply to installments not paid before the submission of the deferral application (maximum installment payable 30 days prior to the submission of the application), and the deferral period shall run from the date on which the installment should have been paid, the deferral shall start from the day of the next installment after the request for deferment of the repayment has been submitted.
The Client may at any time during the deferral installment resume repayment of his loan, as well as withdraw from the request for deferral of installments before deferring the first installment, he must inform the bank through DIALOG Live or branch.
The client may at any time during the deferral installments start repaying his loan. It can do so through DIALOG Live or at a Tatra banka branch.
The client may apply for deferral of installations in accordance with the legal regulation of deferral of installations during a pandemic only once and it is not possible to request an extension during the duration.
Deferred interest will no longer bear interest after the deferral. Interest on outstanding principal will be properly calculated during the grace period and will be payable after the grace period has ended.
No, postponement of insurance payments is not possible. Pursuant to the insurance policy, the policyholder is obliged to pay the premium even during the deferral of the loan installments of the same amount.
If the client only owns a credit card and has no other credit product, postponement of installments is not possible in this case. The client can facilitate the repayment of the credit card: Simply pay 5 % of the outstanding amount on a monthly basis. The client can set it up easily in the Tatra banka mobile application: in the “Cards” section and the option “Credit Cards” and the Card Detail.
In the event that there is no delay in repayment of more than 30 days in the case of a restructured loan, the repayment of the repayment loan may also be requested.
No, it is not legally possible to request a deferral on loans granted in the form of an authorized overdraft on the account.
The deferral of installments shall also apply to installments not paid before the submission of the deferral application (maximum installment payable 30 days prior to the submission of the application), and the deferral period shall run from the date on which the installment should have been paid, the deferral shall start from the day of the next installment after the request for deferment of the repayment has been submitted.
It is not possible to postpone installments already paid by clients.
The deferral of installments shall also apply to installments not paid before the submission of the deferral application (maximum installment payable 30 days prior to the submission of the application), and the deferral period shall run from the date on which the installment should have been paid, the deferral shall start from the day of the next installment after the request for deferment of the repayment has been submitted.
Interest on the outstanding principal will be properly calculated during the grace period and will be payable after the grace period has ended.
Deferred interest will be allocated to the remaining repayments until the maturity of the loan. The maturity of the loan is extended by the period of deferment of installments.
*Small entrepreneur means an entrepreneur who, on 31 December of the year preceding the year in which the application for deferral is submitted, employs less than 250 persons and whose annual turnover does not exceed 50 000 000 EUR or the total amount of assets does not exceed 43 000 000 EUR.
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https://www.tatrabanka.sk/en/personal/loans/deferral-installments/