Itaú increases the grace of the loan up to 180 days during the crisis

SÃO PAULO – Itaú Unibanco announced that it will extend the grace period for loan and financing installments by up to 120 days for individuals (PF) and up to 180 days for small and medium-sized companies (PJ). The measures are part of the so-called “Financial Health Package” created by the bank.

The terms of the contract can now also be extended up to 6 years for PF and up to 5 years for SMEs, “thus reducing the value of monthly installments and maintaining the same interest rates,” according to a note sent by the bank.

Furthermore, Itaú states that it will offer additional credit to approximately 8 million people and companies, with reduced rates and flexible guarantees. “The goal is to give customers a boost right now and treat debt more structurally to ensure sustainable conditions over time, while adjusting terms, conditions and rates and guarantees.”

The new solution package is expected to benefit up to 20 million individual account holders and more than one million small and medium bank customers.

Individuals

For individual clients, the contract extension of up to 120 two is available for personal loans, overdrafts, mortgages, credit cards and vehicle financing lines.

Legal entities (SMEs)

In the case of small and medium-sized companies, there is the possibility of extending the term and granting a grace period of up to 180 days for working capital, overdraft line fees and guaranteed account.

In both cases, the conditions are valid for clients who are up-to-date and, during the period, “the same contracted interest rate will be maintained, without charging a fine or additional fees,” the bank guaranteed.

Renegotiation

For individual clients or companies that are in default with the bank, there are special conditions for the renegotiation of the debt.

“Simply offering scarcity will not be enough. For this reason, we are adapting the entire flow of payments to the financial capacity of our clients over time, observing, in addition to the grace period, different conditions for terms, rates, guarantees and even providing additional credit, “says André Rodrigues, executive director responsible for the Retail Bank of Itaú Unibanco.

The new Financial Health Package conditions are now available both for customers who have not yet applied for this extension, and for those who have already postponed their fees for two months and can now extend the grace period.

According to the bank, the entire process can now be done using digital channels and contacts with managers, without the need to travel to physical branches.

“We made a detailed mapping and specific analysis of the different characteristics and needs of our clients, with an intensive use of data, and with that we can offer adequate solutions for each profile, whether they are self-employed, pensioners, or recipients of wages in your bank accounts, micro, small or medium companies. By accessing their accounts, customers will receive online guidance on the most appropriate package for their situation, “adds Rodrigues.