Support for borrowers

For a home loan and mortgage loan, the grace period can be up to 12 months, and for a small loan and leasing, up to 6 months.

We analyse each application separately and take into account the individual situation of the customer.

A grace period can be terminated at any moment just by sending an application to the bank. In such a case, full loan payments still continue from the following month.

The postponed principal amount will be distributed across the remaining period and interest payments will change accordingly. Interest is calculated on the remaining loan amount, which is why interest payments are reduced monthly according to the reduction of the remaining loan amount. If the outstanding principal balance remains unchanged (for example, during the grace period), you will pay interest on the principal amount at the time repayments were suspended.

Example: the loan balance is EUR 50,000 and the monthly principal amount is EUR 300. If the payment of the principal amount is suspended for three months, interest has to be paid on a fixed amount of EUR 50,000 during that period. However, if the principal amount payments were made as initially agreed, interest would have to be paid on increasingly smaller amounts: EUR 50,000, EUR 49,700, EUR 49,400.

Yes, a grace period can be extended. For that, submit an application at the Internet bank, under the “Loans and leasing” subdivision. We evaluate each application and situation individually.

A grace period means that you can temporarily pay the loan in part – the principal amount payments are postponed and you pay only the interest payments. However, you need to keep in mind that after the end of the grace period, monthly payments will increase, as the principal amount not paid will be distributed across the remaining loan period.

In case of payment difficulties, we recommend that you contact our loan experts immediately so that they can advise you on the most suitable solution for you. Depending on your situation, different solutions may be suitable.

A grace period does not have a negative impact on your creditworthiness if it has begun before payment defaults have occurred. In case of difficulties, the most important thing is to contact the bank early and find solutions in cooperation with us.

Yes, you can apply for a grace period for several loans at once. You need to submit a separate application for each loan. You can submit the applications at the internet bank, under the “Loans and leasing” subdivision.

To make changes, you need to fill out an application. This can be done in the Internet bank section “Loans/leases” – “My loans”, by selecting the loan agreement for which you wish to apply for a grace period and clicking “Other changes” – “Grace period" and “Yes”. After submitting the application, we will contact you to provide information about the further process and ask additional questions, if necessary.

After receiving the application, we will contact you, specify the reason for the payment difficulties, if necessary, and make a decision. The amendment of the agreement will be signed at your internet bank.

Yes, if you continue to make monthly loan insurance payments, the insurance will remain valid also during the grace period.

Extending the loan period does reduce the amounts paid monthly, but the total interest cost for the whole loan period increases.

Extending the loan period can be a solution that helps reduce the amounts paid monthly and thereby alleviate unforeseen circumstances. At the same time, the longer the repayment period is, the higher the total amount of interest will be. For this reason, you should always carefully consider extending the loan repayment date.

The amounts paid monthly can be reduced, for example, by changing a schedule with equal loan payments into a schedule with annuity payments. In a schedule with a fixed principal, the principal payments remain the same until the end of the loan term, but the interest payment decreases monthly in line with the declining principal balance. In such a case, the monthly repayment is larger at the beginning of the loan period and becomes smaller throughout the loan period. In the case of an annuity schedule, the loan payments and interest payments are divided into monthly payments as evenly as possible throughout the validity of the loan agreement, until the base interest rate changes. Hence, the monthly payment for an annuity schedule is a bit smaller than in case of equal loan payments. However, in the case of an annuity schedule, the remaining principal amount is reduced more slowly and, therefore, the total interest costs for the whole loan period are higher.

You can apply for a grace period at the internet bank by choosing “Loans and leasing” → “My loans” from the menu and then choosing the relevant loan agreement and clicking “Grace period”.

When changing the payment schedule, it has to be kept in mind that even though an annuity schedule may reduce the amounts paid monthly, the total interest cost for the whole loan period may increase. Therefore, it is important to carefully consider whether changing the payment schedule is the most suitable solution.