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There will be no increase in monthly customer fees after the payment moratorium expires next January
The Hungarian National Bank (MNB) announced. That is, everyone must pay the same amount each month that they would have paid in January without the moratorium.
It also emphasizes in a statement on the central bank’s website that the news that the total burden of the users of the moratorium on its lending financial institution would increase significantly would be inaccurate. The reality, on the other hand, is that the interest accrued in the period during the suspension of payment cannot be affected by banks and financial companies with the capital debt, so they will not be accrued interest. To cover interest, the term of the customer’s loan is automatically extended in a predictable and predictable manner. For this reason, even with a principal of HUF 10 million, a total loan-to-value (APR) of 4.5% and a residual maturity of 10 years, the maturity is only 5 months. In return, the client received an emergency or will receive immediate assistance. Furthermore, according to the calculations of the MNB, the loan granted will also have an advantage of around 70,000 HUF because you can use your money immediately for something else instead of paying, for example, it is not necessary to break your savings, wrote the central bank .
The MNB stated:
Customers can request the refund moratorium at any time until the end of this year.
In the same way, they have the opportunity to continue with the refund at any time. This last intention must be notified to the credit institution if the bank increases the quota. Confidence in the moratorium is indicated by the fact that households and businesses have so far requested the suspension of monthly repayments of 40% to 50% of the total loan portfolio, more than half of the total number of loans. As a result, approximately HUF 2 billion of liquidity remains with households and businesses. At the same time, according to MNB data, between 85 and 90 percent of households are not affected by the possible anticipated payment difficulties, due to the security of their income and the situation of the labor market.
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