Modern banking services are very common in the household sector, car loans or mortgage lending, but they are rather extended in time. Over a long period during which the consumer uses credit funds, many unforeseen circumstances can occur in a person's life. Due to which, a person cannot make several payments, he needs to get credit holidays.

Concept and how are they formed?

Not every consumer of banking products is aware of the possibility of obtaining and processing them. It is worth understanding what kind of service it is, and in what cases it is provided.

Credit holidays are a banking service for deferred payment for a certain period of time. There are several reasons for receiving such a service: a sharp deterioration in financial situation due to illness or loss of a job. From the offensive, which at present no one is immune.

In order to receive a deferment of loan payments, it is necessary to notify the bank in a timely manner of the occurrence of adverse changes in life. To do this, you must write an application and attach supporting documents, for example, a copy of the work book with a mark on the termination of employment, or an extract from the medical history.

Unfortunately, mortgage payment holidays are provided at the discretion of the employees of a particular bank and depending on the personality of the borrower. There are several types of delays:

Holidays in the full sense of the word, there are no payments on the loan: neither the repayment of the principal debt, nor the payment of interest.

Partial loan repayment - a new repayment schedule is drawn up, and the borrower repays the loan according to the new schedule - only interest or the body of the loan is repaid. You can extend the term of the loan, but the monthly rate is reduced.

It is possible to change the currency of the loan - when the dollar falls or rises, if the loan is in rubles.

In the event of unforeseen circumstances, a more reasonable approach would be to talk with a loan officer and find the best way out and the current situation. You should not avoid visiting the bank and hiding, otherwise penalties will be charged and negative comments will be entered into the borrower's credit history.

For successful consideration of the submitted application, documents confirming these circumstances must be provided.

It can be:

A copy of the work book, where there is a record of dismissal;

An extract from the medical history with an established diagnosis and time of treatment;

Change of residence and relocation due to certain life events;

Force majeure events or natural disaster, etc.

When applying, credit holidays imply the receipt by the applicant of certain benefits. Usually, employees themselves offer to choose the most advantageous from the available conditions and make a decision on their own.

Banking institutions are in no hurry to notify their customers of the availability of such a service, but those few who managed to use it are very pleased with this decision and advise those people who find themselves in a difficult life situation to use it. Typically, lenders loyally consider such applications from bona fide borrowers, and consumers who have recently begun to cooperate can only rely on luck and the loyal attitude of employees. A big advantage for the borrower will be the presence of property, a large income or the ability to make a significant amount of collateral.

If a person needs to apply for a credit holiday, a number of actions must be taken:

Contact bank representatives and report financial difficulties and ask them to choose the best way to repay the debt.

Arrange an appointment and visit the responsible worker for these issues. If necessary, provide the necessary documents confirming the circumstances. In addition to standard requirements, each borrower has individual requirements, and other documents may be required.

Upon receipt of an affirmative response from the representatives of the bank, ask for a new loan agreement with the amendments (deferment, restructuring or partial repayment of the debt) and pick up your copy of the agreement.

Holidays and vacations can be combined

In addition to difficult life situations, the client may have a desire to leave for a long period on vacation or abroad. Even such desires are met by some banks, but this option will already be paid. Therefore, such credit holidays will cost the borrower a certain amount - after the delay, the loan will increase slightly. But it is necessary to pay for every benefit, and credit institutions adhere to such principles.

Advantages and disadvantages

Having studied the information provided, the user knows what it is - a deferral of loan payments. Deferral of payment provides an opportunity to take a break from financial burdens, but at the same time, even more debt arises and constantly grows. Therefore, during the vacation, you need to solve your problems as quickly as possible, otherwise the issue of the appearance of a court summons and bailiffs on the threshold of the house will not keep you waiting. In addition to official methods of dealing with non-payers, there are also unofficial ones - collection offices and individual collectors.

It is not always possible to return issued loans on time. This is due to various reasons. This may be a job loss, illness, financial difficulties in the family. The borrower can apply for a loan holiday, which involves a delay in making payments. A client who has a white credit history can use this privilege. It’s better to get a deferment right away than to face a lot of different problems later.

Definition

Credit vacations involve changing the terms of the contract, as a new loan term is set. The borrower will pay the debt to the bank, the terms are shifted for some time. Individual conditions are negotiated and prescribed with each borrower. He may not pay for some time or pay only interest.

Banks consider applications individually, so each client is offered special conditions for solving the problem. Banks have special rules for obtaining credit holidays.

Loan vacation options

Credit holidays are issued in almost every bank. Typically, this privilege is valid for no more than 3 months. During this period, the borrower has the opportunity to find a job and receive a salary. The borrower independently solves such problems by paying the debt.

Such a service can be issued at the bank after submitting an application. In this case, credit holidays are of the following types:

• With deferred payments. The pay schedule is moving. For example, the payer has a grace period of 3 months. At this time, he will not need to make payments, and the term of the loan agreement is extended for this period.
• Partially delayed. Interest is paid, and the total amount is carried over to a specific period. Terms are considered individually.
• Recalculation of the amount of payments with a change of currency. This option is rarely used.

Design rules

How to apply for a credit holiday? To do this, you need to contact the bank, tell about your difficulties. Deferral of payments is considered a legal procedure. Then you need to provide evidence of a difficult financial situation. For example, it can be a certificate from the hospital, a work book. How to get credit holidays? It is necessary to write a statement clearly and competently, its meaning must be clear. It is drawn up in the name of the head of the financial institution.

Then you need to arrange the actual credit holidays. The conditions must already be known. Before signing the contract, it should be clear whether there are interest accruals during this time, whether the rate increases, whether there are fines and other sanctions. If a positive decision is made on the application, you must visit the bank, as well as sign the documents. A new payment schedule will be issued.

Documentation

The Borrower must provide the following copies of documents on the deterioration of the financial situation. These include:

• A copy of the work book.
• Certificate from the employer about the decrease in income.
• Medical certificate of illness.
• Copy of disability certificate.

Consideration of the application takes 30 days. If the bank makes a positive decision, the parties conclude an agreement with new conditions. Financial institutions usually approve credit holidays for bona fide customers. Therefore, it is advisable to contact the bank before delays appear.

Failure cases

Banks refuse to issue a service when a loan payment has not been made for a month. Even if the client then decided to use the service, he is unlikely to be allowed. Therefore, it is necessary to apply for a service in cases where there are no delays yet. Then, most likely, the application will be approved.

Refusal will follow in a normal state of health and the availability of work. For example, the client did not provide official confirmation. The same applies to those cases if the loan was issued less than 90 days ago, or if there was a late payment. The client will not be able to take advantage of the favorable conditions for granting a deferment.

Program benefits

Taking out a loan has the following benefits:

• The grace period is 3 months. This time is enough for rest, job search, treatment.
• During this period, no fines are charged. It turns out that the debt will not increase.
• The credit history does not deteriorate, therefore, in the future, you can apply for loans without difficulty.

Cons of credit holidays

Because of this, the term of the loan increases. Sometimes another option is chosen: the amount that is not enough to pay is divided by the remaining months. Then the repayment period does not change, only payments increase.

Some banks arrange holidays for debt, and interest should be paid without delay. Not all organizations offer these services. There are banks that charge fees. Such a service also has a psychological drawback: the borrower relaxes during the grace period on his finances.

Which banks provide such services?

These services are offered by the following banks:

• Sberbank.
• Promsvyazbank.
• VTB 24.
• Home Credit.
• Alfa Bank.
• Renaissance.
• Raiffeisenbank.

Detailed information can be obtained at the bank office or through a consultant by phone. Each institution offers its own terms and conditions for the provision of services.

Sberbank

Credit holidays in Sberbank are issued for debt restructuring with a decrease in the payment amount. To do this, you need to apply to the bank with an application. You should also provide documentary evidence that there are financial problems. Sometimes it is proposed to extend the period of the contract with an increase in the rate.

A client wishing to apply for a deferment must have a positive credit history. Holidays are issued up to 1 year. The term of the contract is extended by 2 years. It turns out that the amount of the monthly contribution is reduced. When should you not apply for a deferment? If it is difficult for the borrower to pay the bills, then due to credit holidays, the difficult situation will become more complicated. Then it is better to start selling property burdened with a loan.

VTB

This service is provided by VTB. Credit holidays do not cancel regular payments. They just push back until the next payment. The loan amount does not increase, but the period is extended. Until the end of the loan holidays, the borrower pays the loan based on the new schedule.

Loan holidays at VTB are very beneficial for many clients. How to issue them? You must contact the bank with the appropriate application and documentary evidence.

The terms of this service include:

• No delays for six months.
• The service is issued only once every 6 months.
• Documentary evidence of insolvency.
• Until the end of the contract must remain no more than 3 months.
• The service costs 10% of the payment, but not less than 1199 rubles.

The application is considered for about 5 days, after which the client will know about the decision. Sometimes a refusal follows if there are no grounds for obtaining a deferment. You need to apply for a service in the event of unforeseen circumstances. As evidence, a work book, a certificate from work, from an employment center, a document on illness can be presented. The bank may also take into account other circumstances.

Don't delay getting a loan. If there is a possibility that the payment will not be made on time, it is necessary to urgently issue this service. Usually the bank goes to meet borrowers, because it is interested in the full repayment of the loan. This will be more beneficial for the client than paying late fees. You should not contact the bank when the loan is secured. The best solution would be to sell the property and pay off the loan.

Before registration, you need to study more detailed conditions. If there are temporary financial difficulties, such a service will help out. And no penalties will be charged. It is also necessary to maintain credit history. The bank considers all situations individually. Each borrower is offered the optimal solution to the problem.

Is the service worth it?

It must be borne in mind that any delay on the loan increases the overpayment. During the grace period, the amount of debt does not decrease, so the rate does not decrease either. The longer the vacation lasts, the more the cost of the loan will increase. Therefore, it is necessary to issue a service only in extreme cases.

If you do not pay the debt and do not draw up a deferral, another problem will appear. Penalties will be charged. Debt collectors may worry you if you don't pay off your loan. And when the delay is more than 90 days, a court case is initiated. When a decision is made in favor of a financial institution, the borrower loses the collateral. Therefore, it is necessary to issue such a service in a timely manner.

The bank can allow the borrower to postpone loan payments for a couple of months if certain difficulties arise and only after documentary confirmation of this fact. But some credit organizations have chosen a different path - and began to provide this service for a fee. Sravni.ru found out which banks and in what form are ready to meet customers who need a credit break.

Temporary permutations

In most cases, a credit holiday means one of those, within which the borrower can only pay interest on the loan, and the payment of the debt itself is postponed for a certain period.
“This is a fairly popular way to avoid delays in a situation where, for example, a borrower has lost his job and he needs time to find a new place, but he has no savings and other sources of debt repayment,” Elena Kovyrzina, Director of the Retail Business and SME Lending Department at Absolut Bank, explained to Sravni.ru.

Note that in this credit institution, you can restructure car loans and mortgages. The total duration of credit holidays in Absolut Bank cannot exceed 12 months.

For all credit products, Altaienergobank's clients can count on such sympathy from the lender. True, for a period not exceeding 3 months, in exceptional situations - up to 6 months. “About 5-7 such applications are received daily, of which 50% are usually rejected due to the groundlessness of the request. For example, a client asks to change the date of payment or not to make one payment, because. The pay date has changed at work. A car loan, for example, is issued for a period of 3-7 years, during which time the date of receipt of money may change more than once. This is not grounds for postponing the payment date. The client is invited to make two payments once, and then pay in advance”,- told the press service of the bank.

Another credit institution that is ready to send payments on any loans on vacation for 2-12 months is Petrocommerce Bank. But as Yelena Shustova, director of the bank's retail products department, warns, an increase in the interest rate is possible if payments are deferred.

Borrowers are also treated with understanding at Home Credit Bank. “If the borrower does not hide and reports that he has financial difficulties, the bank will not immediately demand full repayment of the loan and go to court. We will provide an opportunity to return to the payment schedule. However, during the delay, the borrower will have to pay a fine. As a rule, small financial difficulties are overcome within a month. And within 3-4 months, borrowers can overcome even more significant financial problems associated with the loss of a job and a source of income,”- says Nino Kodua, deputy director of the department for work with overdue debts of the bank.

At the same time, if within 4-5 months the borrower still could not resolve his problems, and the requirement for full repayment of the loan was nevertheless put forward, then the bank can offer an installment plan for repaying the debt: 20% from the total amount immediately, and the remaining funds on an individual schedule.

In fact, the list of financial institutions that are ready to provide borrowers can continue for a long time. As Sravni.ru has repeatedly written, it is more profitable for banks, as well as for the clients themselves, to resolve such situations peacefully.

But this all applies to cases where the borrower really has financial difficulties. But what if the client just wants to go on vacation and take a break not only from everyday hustle and bustle, but also from monthly payments? Most credit institutions will not understand such a desire. However, there are those who will treat this very loyally, albeit for a fee.

Service for a fee

In this case, credit holidays are not considered as part of the loan restructuring, but are provided as an additional option. For example, any borrower of Promsvyazbank who has taken out a consumer loan since September 2011 and repays it in good faith without delay for at least six months can use the Credit Vacation service. True, at least three monthly payments must remain until the full repayment of the loan, and the debt on the loan should not be restructured.

To apply for the service, the borrower must write a corresponding application at any branch of the bank. The cost of connecting this option will be 10% from the amount of the monthly payment, but not less than 1 thousand rubles, the validity period is two monthly payments, that is, two months. You can use such credit holidays many times, but not more than once a year.

“When the service was launched, it was planned that our borrowers would first of all be able to spend the released funds on themselves and their loved ones - to go on a trip, complete the construction of a country house, change a car, and so on. An assessment of the demand for the service showed that the demand for credit holidays intensified just as the summer period approached, ”- Ivan Pyatkov, director of the department of retail products and technologies of Promsvyazbank, shared with Sravni.ru.

Another variation of credit holidays is offered by Trust Bank. According to the new product of the credit institution called "Summer Vacations", the borrower can apply for an express loan in the amount of 50 thousand rubles for 20 months and make two payments in a row on the loan twice as much. “The product “Summer Holidays” was introduced in early June. We expect high interest from customers, because the option of credit holidays is very convenient”,– comments Pavel Pitsyk, director of innovations and reengineering of business processes of the bank.

By the end of this year, VTB 24 may join the list of financial institutions providing credit holidays as an additional service. “Currently, the service “Credit Holidays” is not available to our clients. We hope to offer it closer to the end of the year”,– reported in the press service of the credit institution.

All of the above applies to consumer lending. But lenders do not forget about longer loans. Thus, at the end of last year, the Agency for Housing Mortgage Lending (AHML) introduced a new Loyal Mortgage service as part of a pilot project, which makes it possible to take advantage of payment holidays when lending under the Standard and New Building programs. At the same time, you need to connect the option even when applying for a loan. Its cost is 0,3 percentage points to the annual rate. For this fee, the borrower, in the event of financial difficulties, can count on a reduction in the monthly payment by 45-60% .

It is possible to use a loyal mortgage several times, the main thing is that the total duration of the vacation does not exceed two years. The minimum one-time period for which a reduced payment can be provided is 6 months, the maximum is 1 year.

After returning to the regular payment schedule, the monthly loan payment will not change. This will be possible by extending the loan term. However, this condition is more the exception than the rule. Therefore, according to Vilen Lee, Director of the Sales and Products Department of Rosgosstrakh Bank, when deciding on a loan holiday, the borrower should assess his solvency after the end of the grace period.

“The longer the delay period, the more likely it is that the payer will not be relieved by the loan holidays, but only additional costs. After the end of the holidays, the monthly loan payment increases to catch up, and a fee for deferred payments is added, ” the expert warns.

emergency exit

If the bank refused to restructure the loan, and the credit institution does not provide the “loan holiday” service, the borrower has at least one more way out of this situation. We are talking about refinancing a loan in another bank on more favorable terms or for a longer period, which will reduce the amount of the monthly payment.

The Bank of Moscow is one of the leaders in Russia in lending to individuals and legal entities. The lender manages to achieve high performance due to low interest rates, various loan programs and a loyal attitude towards borrowers. One of the distinguishing features of the bank is the ability to receive a deferred payment in the event of financial difficulties for the borrower, or credit holidays. Consider how to apply for a loan holiday at the Bank of Moscow, conditions, requirements and documents.

About the service

Each borrower may have a moment when it becomes difficult to pay the loan, for example, in case of job loss, sick leave or other circumstances. It is for this reason that borrowers stop paying loans, spoil their credit history and get a lot of problems with collectors and the bank. In this case, the service of credit holidays can come to the aid of the client.

A loan holiday is a deferred payment on a loan that a bank can provide to a borrower for a certain period.

Usually, this service is available only to conscientious borrowers who have not previously allowed delays in payments. To take advantage of the holidays, you need to repay a loan for a certain period, for example, at least six months or a year. By the way, banks charge a fee for the delay.

Decor

Consider the terms of the Bank of Moscow credit holidays. As mentioned earlier, the lender is ready to meet bona fide borrowers and defer the next loan payment if there is a really good reason for that. For example, loss of a job, a sharp drop in wages, illness of the borrower or members of his family, the birth of a child, and other circumstances that entailed serious expenses. Accordingly, the client needs to document financial insolvency before the creditor.

Vacation can be issued by a payer who has paid at least three monthly loan payments, if he is not a payroll client of the bank. You can skip the first payment last. To apply for a credit holiday at a bank in Moscow, you must definitely come to the branch in person with documents and write an application.

Please note that you can apply for a benefit on any day, but not on the date of the next payment according to the schedule.

Terms and Conditions

So, in order to arrange a credit holiday for the Bank of Moscow, you need to personally appear at the branch where you applied for a cash loan and provide a document proving your identity and temporary insolvency. Things to consider:

• at the time of applying, you should not have debts to the creditor and other financial institutions;
• the service is available to the borrower no more than once a year;
• this service is available for any type of lending, except for debt restructuring in this bank for previously received loans;
• the service is paid, its cost during the initial registration of a deferment for one day is 1199, for two - 1499 rubles.

When applying for a loan holiday, your monthly payment will not change, but the term of the loan agreement will increase.

Terms of credit holidays of the Bank of Moscow

Consequences

As already mentioned, after the vacation is issued, you will receive a new payment schedule. If you received a loan using an annuity calculation system, then your monthly payment will not increase, but please note that for several months after the delay you will pay only interest to the bank, and, as a result, the term of the agreement may shift not by 1-2 months, but more.

In simple terms, you will definitely have to pay all the interest to the bank, and postponing the next payment, you only increase the amount of the overpayment to the bank. Judging by the numerous customer reviews online on third-party resources, this service is unprofitable for the borrower.

To use credit holidays or not, everyone decides for himself. Although, probably, you should not abuse such offers and use them only in extreme cases, when there really is an urgent need for this.

Credit holidays - a deferment of the monthly payment, which the bank provides to the borrower for a while. During the holidays, the borrower does not repay the loan. There are three types of bank loans:

• Full deferred payment;
• Partial deferred payment;
• Recalculation of the loan amount by changing the currency of the loan (for example, ruble to foreign currency and vice versa)

Full deferred payment. This type of deferral is a common break in loan payments. That is, the borrower does not pay any monthly payments or interest on the loan. This type of deferment is granted only for a good reason. For example, if the borrower lost his job or became seriously ill. True, a good reason will have to be documented, for example, a certificate of employment and so on.

Partial deferred payment. This type of deferment involves the creation of a new monthly payment schedule, according to which the client will make payments during the holidays. For example, you can agree with the bank to pay only the interest on the loan, or extend the loan repayment term, but reduce the monthly payments.

Changing the loan currency. A temporary change in the loan currency can also be a way out of a difficult situation. This can be very beneficial when the dollar or euro falls (if the loan is in rubles), and vice versa - when it grows (if the loan is in foreign currency).

Who can apply for a deferred loan payment

If you document a good reason for a possible deferred payment, the bank will most likely meet the client halfway and provide him with the necessary benefits. Sometimes lenders generally set special conditions for obtaining credit holidays, which limit the circle of users of this service. This is an addition to the family, or the conclusion of a contract for a consumer loan. But usually the lender offers the borrower to choose on his own when and in what way the client will take a break from loan repayments.

Not many bank customers are generally aware of the existence of the possibility of going on credit holidays. But gradually this service finds its customers and gains popularity. How to get credit holidays?

• Call the bank and consult with a loan officer. It is necessary to warn about financial problems and determine the possible type of deferred payment on the loan;
• To document the need for deferred payments (for example, bring a work book with the appropriate marks or a certificate stating a reduction in salary or a medical diagnosis);

The lender may request any additional documents at its discretion.

• Write an application for a loan holiday and sign all the necessary bank documents for a loan holiday.

Credit holidays for no reason

Sometimes a client just wants to take a break from monthly payments in order to go on vacation abroad or hide from the bustle of the city in the country. Even such desires are treated with understanding by creditors. Some banks in such cases offer credit holidays as an additional option for which you will have to pay extra. The provision of this service by banks is subject to special conditions, which are completely different everywhere.

Pros and cons

On the one hand, deferred payment on a bank loan makes it possible not to become a debtor and avoid litigation, but on the other hand, overpayment on a loan during the holidays will only increase. The amount of the overpayment will depend on the term for granting a deferral of payments, because during the holidays the amount on which interest is charged does not decrease, and the interest goes to the bank irrevocably. The period of respite also varies everywhere: from a couple of months to several years. The choice of a deferral program is also strictly individual.

In conclusion, we note that credit holidays are a temporary respite from a loan, and then you still have to return the money to the bank. We can only advise you to solve all problems during the holidays as quickly as possible, otherwise the loan debt will grow like a snowball. And this can already lead the borrower to court, and collectors to his door.

Anfisa Khramova, expert editor