PRAVEX BANK extends the grace period under credit contracts for the individuals and legal entities until May 25, 2022.
The grace period is the period during which, if there are no funds on the current account, there will be no delay in payment. But if there are funds in the current account, the payment is automatically credited as repayment on the loan.
During the grace period:
- the increased interest rate is not applied in case of breach of contract,
- no penalties are charged,
- information on payment delays is not transmitted to the credit bureau.
However, the obligations under the loan agreement remain unchanged. If you have the opportunity to make regular payments on the loan, please pay according to the payment schedule by replenishing the current account. Unpaid payments on the debt base amount and interest for the grace period are accumulated. It means that the load of the following periods increases. At the end of the grace period, it will be necessary to pay the full amount that has accumulated or to apply to the bank for restructuring in advance.
We also draw your attention to the fact that the application shows that you have overdue payments, but this is not the case.
To obtain information on the grace period and the necessary payments and their terms, you need to form a repayment schedule.