While being led by our ambition to ensure stability, peace of mind and certainty for our clients, with effect from 11.12.2020 UBB re-installs particular measures for deferral and settlement of credit liabilities, in line with the COVID-19 pandemic.
The measures of UBB have been elaborated in line with the Procedure for Deferral and Settlement of Callable Liabilities to Banks and Their Subsidiary Companies – financial institutions in line with the actions, initiated by the Republic of Bulgaria’s authorities for containment of the COVID-19 pandemic and its aftermaths, adopted by the Association of Banks in Bulgaria (ABB) and approved by the Bulgarian National Bank (BNB) on 10.04.2020 and as amended upon the BNB’s approval dated 09.07.2020 and 11.12.2020, as well as in implementation of the Guidelines of the European Banking Authority (EBA) regarding legislative and non-legislative moratoria on loan repayments, applied in the light of the crisis, induced by COVID-19 (EBA/GL/2020/02 dated 2 April 2020), amended with EBA Guidelines (EBA/GL/2020/08 dated 25 June 2020) for amendment of the EBA Guidelines /GL/2020/02 and with Guidelines (EBA/GL/2020/15 dated 2 December 2020) for amendment of EBA Guidelines /GL/2020/02).
Defferal of loans with regard to individual clients
With regard to consumer and mortgage loans
Option No 1, upon which the due amounts (principal and interest) will be deferred over a period of up to 9 months, however not later than 31.12.2021. In this particular case the whole outstanding debt amount, together with the unpaid principal during the grace period, will be repaid according to a new repayment schedule over a period with up to 9 months longer than the initial one, depending on the number of deferred installments. In the new repayment schedule the interest and fees, due and unpaid over the grace period, will be deferred by adding an equal part of those over a maximum period of up to 12 months for consumer loans and up to 60 months for mortgage loans.
Option № 2, upon which the due amounts on the principal will be deferred over a period of up to 9 months, however not later than 31.12.2021. A new repayment plan will be prepared, covering the total outstanding debt amount, including the non-paid principal during the grace period, and also stating the amount of due interest during the grace period. The new repayment schedule will be longer by up to 9 months, as compared to the initial one, depending on the number of deferred installments.
With regard to revolving Credit Cards and OK loans
For revolving credit products of individual clients UBB provides a deferral opportunity within up to 9 months, however not later than 31.12.2021 for deferral of their debt under utilized amounts from the credit limit for purchases at merchants, cash withdrawals and annual fees. Over the deferral period what will be fully due are interests, fees and monthly installments of deferred purchases, if any, as these will be included in the monthly statement as a minimum monthly payment. After expiry of the deferral period the due amounts for purchases, cash withdrawals and annual fees will continue to be repaid as per the manners, negotiated in the agreement and the minimum amount of the partial repayment installment.
The proposed measures, following extension of their application period, can be used by all clients of the Bank, who:
- not later than 23.03.2021 have explicitly stated their willingness to use relaxation terms and conditions, by filling out a Declaration Statement according to a sample from of the Bank;
- Have evidenced or stated their expectations about difficulties in their financial performance, as a result of circumstances, triggered by COVID-19
- Use the respective credit product (have a concluded agreement with period until 31.03.2020) and as at 01.03.2020, as well as at the submission date of their deferral request have been regularly servicing their liabilities or have been past due with not more than 3 monthly installments.
Exposures, which have been subject of deferral under the Procedure for Deferral and Settlement of Callable Liabilities prior to 30.09.2020, may be deferred additionally, as the total deferral period cannot exceed 9 months.
Individual approach will be offered to all clients of the Bank, including those, experiencing either temporary or permanent difficulties, related to COVID-19.
UBB, being your partner, is going to assist you in order to render easier the hard times, triggered by the COVID-19 pandemic. Do not miss out your contacting us by 23.03.2021, in order to make use of the broad range of measures, offered by the Bank.
Channels, via which you can inform us about the need to use the relaxation terms:
- Via the official webpage of UBB, by filling out the form at the bottom of this section. The pre-filled form helps to process the request faster, after which a Contact Center employee contacts the customer to provide additional clarification on the deferral.
- Through UBB’s Client Contact Centre at the dedicated hotline *6777 - Monday to Friday from 8:30 h. until 17:30 h.
- To the following email address email@example.com
- At any UBB branch
No renegotiation or other fees, linked to the present offer, will be due.
Interest free loan program for individual clients
While being led by our ambition to support our clients in the present situation, as well as ensure for them stability, comfort and certainty, with effect from 13.05.2020 UBB starts offering interest-free consumer loans for natural persons under the Programme for guaranteeing interest-free loans in protection of people, deprived of the opportunity to work due to the COVID-19 pandemic, based on a concluded agreement with the Bulgarian Development Bank.
This Programme aims at supporting individuals, impacted by the economic consequences from the COVID-19 pandemic, who are either employed or self-employed persons, meeting the criteria further below.
As regards persons, employed under labour contracts:
- They should have discontinued their paid labour for their employer and should be on an unpaid leave as a result from the pandemic, as the initial date of the unpaid leave should be after 08.03.2020;
- They should be parties to employment relations during the last 6 months, prior to their going on an unpaid leave;
- They should not be receiving remuneration under other employment relations;
- They should have worked at least five business days in the month of March, if this is the month when they were sent on an unpaid leave.
As regards self-employed persons:
- They should have suspended their activity as self-employed persons and/or they should be sustaining at least 20% drop in their income for the first quarter of 2020, as compared to their income for the first quarter of 2019, as a result of the pandemic;
- They should not be receiving remuneration under other legal relations.
Applicants should have paid their social security contributions and should be able to resume their activity (get back to the same work after termination of the unpaid leave).
Applicants should neither use, nor should they have applied for using another loan under the Programme, unless this loan is in amount smaller than BGN 4500 and has been granted by UBB.
Alongside using the loan, the applicants cannot benefit from another pandemic-related measure for natural persons provided by the state.
Parameters of the interest-free loans:
- Amount: Up to BGN 4500, through conclusion of a loan agreement/s with UBB, with single drawdown or in tranches /maximum tranche amount being BGN 1500/ after obtaining a Confirmation from the Bulgarian Development Bank that the loan has been included in the Guaranteed Portfolio.
- Currency: Bulgarian leva (BGN)
- Repayment period: up to 5 years (60 months)
- Annual interest rate on the standard principal 0 (zero)%
- Penalty interest rate on the past due principal 10 (ten)% per annum
- No collateral
- No fees and commissions in line with the loan disbursement
- Option to select a grace period of minimum 6 months up to maximum 24 months, after the expiry of which the loan repayment shall start
Option to select a loan repayment manner:
- Equal monthly installments
- Bullet installment at the end of the loan tenor
Loan purpose: Current needs
As a borrower under the loan you shall use the provided funds only for your individual needs as a natural person, however not for the economic activity, performed by you.
You can apply for a loan under the Programme by 31.12.2020 (incl.)
A Loan Agreement under the Programme may be concluded by 11.01.2021 (incl.), as the deadline for drawdown of loan funds is 31.01.2021 (incl.)
Applicant’s List of Documents:
- Loan application (as per a sample format of the BDB)
- Declaration of Consent
- Valid identity document – ID card or passport
As regards persons under employment relations:
- Copy of a labour contract or another document containing data about the employer and the concluded labour contract
- Certificate or another document indicating that the person is on an unpaid leave
As regards self-employed persons:
- Document for registration of the individual as a self-employed person
- Declaration for the suspended activity of the self-employed persons and/or documents certifying at least 20% drop in the income of the self-employed persons in the first quarter of 2020 as compared to the first quarter of 2019;
Channels, via which you can inform us of your wish to obtain a loan under the Programme:
- Via the official webpage of UBB, by filling out the Request for Financing (sample form) at the bottom of this section. A filled-out form in advance will facilitate the quicker processing of your request, after which a Contact Center official will call the client to further discuss the loan request details.
- Through UBB’s Client Contact Centre at the dedicated hotline *6777 - on business days from 8:30 h. until 17:30 h.
- To the following email address: firstname.lastname@example.org
- At any UBB branch.
Defferal of loans with regard to business clients
Small and medium-sized enterprises and the corporate clients, as well as micro clients of the Bank, which businesses are directly impacted by the introduced state of emergency and the imposed measures in line with the spread of Covid-19, may refer to their client relationship officials at the Bank for discussing their needs and capabilities in order to overcome the adverse impact on their business. A standard deferred payment scheme for up to 6 months will also apply to business customers.
Servicing at UBB Branches
In line with the recommendations of the National Operational Headquarters and of the Ministry of Health, with effect from 30.03.2020 until the end of the state of emergency period:
- UBB branches will operate Monday to Friday from 08:30 h. until 17:00 h.
Upon visiting a branch of the Bank we kindly ask you to comply with the requirements of the Ministry of Health and to bear in mind the following measures, applied by UBB and aimed at your safety:
- Keep a distance of 2 meters from the other clients and from the branch employees. Wait for your turn in front of the branch, if there are already two other clients, who are being serviced inside.
- All our employees are servicing clients with protective masks and gloves and are using disinfection materials.
- Where possible, in certain branches teller desks operate on “every other one” principle.
- At all branches of UBB disinfection is being made by a professional company, according to an approved schedule.
UBB clients can effect remotely main banking transactions 24/7, without visiting a branch of the Bank:
- Fund transfers in Bulgarian leva and foreign currency
Balance inquiry and statements of UBB accounts and credit cards
- Fund transfers to the State Budget
- Pending payables inquiry and utility bill payment
- More information about UBB Mobile is available here.
- More information about UBB Online is available here.
All our clients, inquiring general information about credit and payment products and services, offered by the Bank, can use the free-of-charge remote video consultation service with an UBB employee - UBB Video Meeting.
This service gives you the needed flexibility for a virtual video call with a UBB employee, who is going to consult you in real time regarding additional queries, questions and info on the Bank’s credit products.
Should you need additional assistance UBB Contact Centre staff is available for you at 0700 117 17 for the services, listed here.