UBB clients may request up to 9 months deferral of their loans from home, via the Bank’s website
14 Decempber 2020
United Bulgarian Bank extends the period of the introduced particular measures under 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. Clients, whose liabilities are past due by not more than 90 days may apply for approval of relaxation terms as for the purpose they have to fill out a Declaration Statement form, available in the Bank’s website in a dedicated section, created for the purpose www.ubb.bg/covid19, not later than 23.03.2021.
Clients with mortgage and consumer loans may request deferral of the due amounts under their principal or interest, as they choose, for a period of up to 9 months, which period expires as late as 31.12.2021. Should clients choose to defer repayment of only the principal, a new repayment schedule will be prepared, which is going to cover the entire outstanding amount of the debt, including the unpaid principal during the grace period, and which will also state the amount of the 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.
Should clients choose to defer the repayment of both principal and interest, the entire outstanding debt amount, together with the non-repaid principal during the grace period, will be repaid in accordance with a new repayment schedule within a period, which will be 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.
Clients with revolving credit cards may use the debt deferral option for utilized amounts from their credit limit for purchases at merchants, cash withdrawal and annual fees, within a period up to 9 months, which period expires not later than 31.12.2021. Over the deferral period what will be fully due are interests, fees and monthly installments for deferred purchases, if any, as these will be included in the minimum monthly payment in the monthly statement. 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 in accordance with the minimum amount of the partial repayment installment.
Client exposures, which have been subject of deferral under the above Procedure prior to 30.09.2020, may be deferred additionally, as the total deferral period cannot exceed 9 months. The interest, already deferred for payment under the previous measure, will be rescheduled over a new period, in accordance with the agreed new repayment plan.
The proposed measures can be used by UBB clients, who have ascertained or stated their expectations for experiencing financial difficulties, as a result of the circumstances, triggered by the COVID-19, and whose liabilities as at 01.03.2020, as well as at the date of submitting their request for deferral have been either regularly serviced or past due by not more than 90 days. For the purpose clients need to file a Declaration Statement according to a sample form of UBB. The easiest way to do so is fill out the form at www.ubb.bg/covid19. 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 suggest remote submission alternative for the Declaration Statement. The other opportunities for stating willingness to use the deferral options is by calling the dedicated hotline *6777, emailing firstname.lastname@example.org or visiting a UBB branch.
Business clients of UBB, whose business is directly impacted by the introduced state of emergency and the imposed measures in line with the spread of the COVID-19, may refer to their client relationship officials at the Bank for discussing their individual needs and the possibilities for overcoming the negative impact on their commercial activity.
These measures have been elaborated in compliance with the adopted by the Association of Banks in Bulgaria and approved by the Bulgarian National Bank Procedure for Deferral and Settlement of Callable Liabilities towards 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, as well as with the issued by the European Banking Authority Guidelines on legislative and non-legislative moratoria on loan repayments, applied in light of the COVID-19 crisis.