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Today ends the deadline for families and companies to adhere to the public bank moratorium regime that will last one more year, until September 30, 2021. Anyone who wants to join can contact their bank to formalize this request.
Last week, the Government approved the six-month extension of the moratorium – suspension of monthly payments – to companies and individuals until September 30, 2021 of the capital amortization and interest payment obligations.
Under the new regime, families and companies that benefit from moratoriums have the right to renounce them before the end of the term, contrary to what has happened so far.
“The beneficiary entities may benefit from the effects of the measures provided for in this article for a period shorter than the duration of the moratorium, and, for this purpose, communicate this intention to the institution at least 30 days before the date. in which they intend to terminate the respective effects. “According to the decree-law published in Diário da República on Tuesday.
Under the previous regime, bank customers who had adhered to the public bank loan moratorium, but did not want it to be extended automatically, had until September 20 to inform their bank.
According to the latest data provided by the Government, the amount involved in the moratoriums, in terms of bank loans, reaches 35,000 million euros.
The Minister of Economy, Pedro Siza Vieira, said on September 24 that the amount of capital and interest obligations suspended until March 31, 2021 implies an amount of 10 billion euros.
From the end of March to June 30, more than 841 thousand requests for adherence to credit default were registered with more than 741 thousand requests to be accepted by the institutions, according to the most recent data from the Bank of Portugal.
Of the accepted applications, 44% or more than 322 thousand correspond to mortgage loans and other mortgage loans. During this period, support measures were also applied to consumer credit contracts (more than 196 thousand) and credit contracts with companies, the self-employed (ENI) and others (more than 222 thousand).
In June, the Government had already decided to extend the term of the moratoriums from September 2020 to March 31, 2021.
In addition to these credit moratoriums stipulated by the Government, there are also private moratoriums that apply to credits that are outside the public moratorium, such as personal credit, with the exception of credits for education, automotive credit, and credit cards. Private moratoriums are stipulated by the Portuguese Banking Association (APB), the Association of Specialized Credit Institutions (ASFAC) and the Portuguese Association of Leasing, Factoring and Renting (ALF).
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