Slovenská sporiteľňa will help its clients who request of the deferral of instalments using the so-called LEX KORONA: This is a systemic solution to help, not just people, but also businesses affected by the consequences of the crisis caused by the coronavirus pandemic. The law is effective from 9 April.
Who can apply?
Natural persons – sole traders and small employers (with up to 250 employees, and turnover of up to €50 million) who meet the conditions.
What if a firm or entrepreneur does not belong to these categories?
They can apply individually for a deferral of instalments. The application form will be sent to them by a micros specialist, relationship manager or corporate banking specialist.
How do they request a deferral?
They have to do it in writing, and they can submit their application in person via a branch, a corporate centre, via Business24, by e-mail, or send it via the web form, or sign it by a qualified electronic signature. Our preferred way is that the application forms are sent via Business24 for all clients who have a computer version of this application or via the web form
What loan repayment instalments can be deferred?
Clients can request the deferral of repayment instalments of principal and interest of instalment and term loans for up to 9 months.
How do I choose the correct form?
Clients with an annual turnover of up to €1 million can find the deferral request form here.
Clients with a turnover above €1 million can find the form here.
What do I need to fill in?
The client specifies the loan for which they are requesting deferral of repayment instalments, or whether they are requesting a deferral of repayment instalments of all loans they have with us. The client chooses whether they want to defer repayment instalments of only the principal, or both the principal and interest. The client also chooses whether, following the deferral, all remaining repayment instalments of principal will be increased, or whether the loan repayment period will be extended.
How long does approval take?
We will approve correctly completed application forms within a couple of days. The client will receive a notification of acceptance via Business24, or by e-mail. It is not necessary to sign an amendment to the loan agreement.
What happens to other requests already received and accepted?
Clients who, before this law was passed, requested deferral of repayment instalments by a repayment holiday of at maximum 6 months, and which we accepted, can apply to us for a deferral also under the new law. The deferral will be netted with the already deferred repayment instalments.
What about other types of loans?
We are allowing also clients with leasing or clients with a fixed overdraft period to defer repayment instalments for at maximum 6 months, on the basis of an individual application.
What else does a potential applicant for deferral need to know?
- A deferral can be made at the client’s request, and this is free of charge.
- It does not mean release from the repayment obligation, and the loan will continue to bear interest during the deferral.
- The deferral does not apply to insurance fees, or credit management fees; the client will pay these as before.
- At the date of application, any arrears with loan repayment may not be longer than 30 days, or be in default according to a special regulation.
- As at February 29, the client must not have arrears on any other loan provided by us of €100 or more, for longer than 30 days.
- The client must not have a negative entry in the credit and bank guarantee bureau register.
- We recommend clients consider deferring repayment, and request it only if they are genuinely at risk of being unable to repay.
All essential information on this topic can also be found at https://www.slsp.sk/sk/landing-pages/casteotazkybiznis