The Sparkasse defers the loan repayments due to corona pandemics for up to nine months. The board of the Sparkasse has decided on a corresponding private payment moratorium: “We want to help our customers to get through this crisis financially and to maintain their economic performance. That is why the Sparkasse is ready to take this extraordinary step, ”said Marcel Thimm, the chairman of the board.
The Sparkasse assumes that the corona crisis will keep companies and consumers occupied for an even longer time. Significant sections of the population and many companies are now experiencing financial bottlenecks due to corona-related revenue losses. “We live with and from our customers here on site. It is therefore natural for us to find solutions to this crisis together with our customers, ”said Thimm.
Private and commercial customers of the Sparkasse can suspend the repayments due for up to nine months on existing loans. The suspension leads to an extension of the term of the respective loan, the contractually agreed interest payments and conditions remain unchanged.
The prerequisite in all cases is that the borrowers affected have Corona-related payment bottlenecks and that it is currently not economically feasible to pay the due loan repayments. Exempt from this moratorium are promotional or restructuring loans, non-performing loans, approved / tolerated overdrafts as well as credit card redemptions and syndicated financing.
With its own payment moratorium, the Sparkasse goes well beyond the existing legal regulations. This stipulates that Corona-affected consumers affected by loss of revenue are entitled to defer interest and principal payments for the months of April, May and June 2020. Companies are not affected by this. “We think that it is in the interest of many customers not to have to make loan repayments over a longer period of time. The Sparkasse is ready to do this with affected customers, ”said Thimm.
Customers who meet the requirements and want to take advantage of the private moratorium should contact the Sparkasse by June 30, 2020.
(Press release: Sparkasse Freiburg-Nördlicher Breisgau, May 29, 2020)
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