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In recent months, the National Bank of Serbia has met the needs of both citizens and the economy with a moratorium on loan payments. Approximately 80% of the debtors took advantage of the opportunity to suspend the installments for five months.
In mid-November, a new request appeared, mainly from the tourism industry, for a delay or delay in the payment of loans, and the relevant association HORES stated that the NBS sent them a letter instructing them to contact commercial banks to a new loan delay.
Thus, the question of a large part of the economy, but also of citizens, became relevant again, whether there will be a new moratorium and the possibility of stopping the credit war. We also asked the NBS, headed by Governor Jorgovanka Tabaković. And the answer is the following.
Certainly, the NBS analyzes the effects of all the measures taken so far, continuously monitors the situation in the financial sector and continues to take all the necessary actions to mitigate as far as possible the negative effects of the virus crisis, but taking into account The need for banks to be allowed, in accordance with their own business policy and estimates, will allow for a sustainable rescheduling of obligations with their customers ”, explained from the central bank in response to questions from“ Blic Biznis ”.
In translation, it is now up to the banks to agree on possible facilities with clients.
The central bank notes that in addition to the moratorium as mandatory benefits, they also created opportunities to approve other benefits in terms of loan repayments and easier access to household financing.
Specifically, it is the possibility of refinancing or changing the expiration date of the last installments of consumer loans, cash and others, as well as the possibility of extending the repayment term of housing loans and facilitating access to the home loans.
“With regard to the debtors of the economic sector, the NBS acted, among other things, as one of the leading institutions in establishing a guarantee scheme to help the economy, as well as to support a financing in dinars even more favorable through that scheme, “Banco Nacional told Blic Biznis. .
How much does a moratorium cost?
All those who accepted the first and second moratorium on the repayment of the loans, had to have monthly installments higher than one thousand dinars before March, when the possibility of stopping the repayment of the loan came into force.
For example, if you pay a monthly installment of 300 euros for a home loan and you have 10 years until the repayment ends, your monthly cost is higher by a total of 750 dinars after the moratorium, for two reasons: 300 dinars more in basis for another moratorium. and 450 dinars under the moratorium in April, May and June.
Also, if you have a cash loan of 500,000 dinars with a home loan, you now have an additional cost of about 500 dinars, namely: 310 dinars based on the first three-month moratorium and 200 more dinars based on the moratorium in August and September.
Those who chose to delay the refund had three options to continue with the refund after October. The first option is to distribute the regular interest linearly over the rest of the debt and extend the term of the loan by 60 days. The first moratorium extends the refund for 90 days.
The second option was for citizens to pay only the interest and extend the loan for 60 or 90 days. The third option is to pay all the interrupted installments at once.
No new downtime for hoteliers
The director of the Serbian Hospitality and Catering Association, Georgi Genov, said that the NBS sent them a letter instructing them to contact commercial banks for a new loan deferral, adding that banks would benefit from that because the interest would be refunded and the refund would be delayed. loan principal.
“So banks would have increased profits and hotels could survive because now they have almost no income,” Genov said.
The request for postponement or delay in reimbursement (moratorium) is one of several requested by the tourism industry in mid-November, with a reduction of value added tax (VAT) on food from 20 to ten percent, postponement or cancellation of taxes and contributions on wages and simplification of procedures for seasonal workers applications.
We also asked the governor about loans of 90,000 dinars “per word”.
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