Thursday, April 2 2020 13:47

ArmInfo.Taking into consideration the state of emergency in our country and the fact that during this period of time, without income recovery, our customers will have difficulties with the repayments of the loans after the grace period, IDBank announces the second stage of customer support.

This implies:

1. Extension of  the period of credit vacation until May 17․
2. During the three months following the credit vacation, our physical entity customers have the opportunity to make only interest payments.
3. Overdue liabilities during the mentioned period will be distributed over the entire following loan repayment period, for the borrowers with no real estate collateral liabilities, guarantee or no need to renew their collateral contract, the loan repayment period may be extended by one more year.
4. n the case of loans with collateral, the borrowers take advantage of all the above-mentioned privileges, except of the automatic extension of the loan repayment period: these cases will be approached individually by the Bank.

At the same time, we inform you, that from March 17 to May 17 there will be no penalties and fines in case of non-payment of principal amount and interests, as well as during the following 3 months, in case of non-payment of principal amount, the credit will not be classified, customers’ credit histories will not be affected.

Due to these measures, the amount of monthly repayments to be paid in the following months will not differ substantially from the monthly amount currently paid by the customer. Customers will receive the new credit repayment schedule by email.

Only those physical entity customers can make use of the credit vacation, who didn’t have current overdue obligations as of March 17, as well as those customers, whose loan-agreements have been signed before March 17.

If the customer does not want to make use of the above-mentioned benefits, he or she may continue to make payments under the current loan repayment schedule.

The Bank has also granted privileges to those its legal entity clients operating in the areas of hotel, restaurant, tourism, entertainment, as well as for those entities, which will be affected negatively because of the emergency situations. These clients will be treated individually.

To take advantage of the stated privileges, legal entities should apply online, for at least 5 business days before the regular repayment of their loan, going through the following link: https://www.idbank.am/content/contacts/,  filling in the required data and choosing the subject: "Postponement of loan repayment".  Submitting an application, you should give a detailed description of the situation.

Physical entity customers who have money on their account but want to take a credit vacation, can also apply. The application must be submitted at least 3 business days before the regular day of repayment.

IDBank is ready to support also those customers who have sufficient income and will not break their loan repayment schedule: encouragement mechanisms are being developed for them. Customers can make payments remotely via IDBanking.am online platform, Idram app, as well as IDBanking 24/7 zones (see list here) and access to more than 200 banking and non-banking services. Make payments without endangering your health.

If you have questions or disagreements about the second stage of your vacation, please forward them by email: [email protected].