Honesty is the key to transparency in financial relations between the Bank and the borrower.

Inspectors of many banks have talked about this and will talk about it when concluding lending agreements. However, when real difficulties arise, borrowers for some reason decide to turn to friends, relatives, even to another Bank, in order to take out another loan in order to pay off a possible debt from their Bank.

Financial difficulties regularly arise not only for organizations, but also for private borrowers, and the first thing you should do is honestly warn your Bank that you cannot make the next loan payment. This applies to absolutely all categories of citizens who take out loans; no level of income today can guarantee security tomorrow.

Can we expect that the bank will cooperate if the reasons for the inability to make payments on time are communicated to the borrowers on time? In most banking structures, the attitude towards such borrowers is quite loyal, since the bank has no reason at all to lose its money on an unpaid loan due to the borrower’s temporary difficulties. By refusing to defer payment once, the Bank risks that such situations will be repeated frequently and no penalties will correct the situation. What could be the solution to such problems in lending?

How to get vacation?

Many borrowers have not even heard of this term, and yet, not only does it exist, you can actually take advantage of the holidays. Credit holidays are holidays, rest from payments or parts thereof, provided by the Bank to its borrower in exceptional cases. This is a small chance that the Bank gives a “time loan” so that the borrower can resolve his financial problems. This does not mean at all that every borrower who honestly pays off loan debts is awarded such an “honor.” The Bank considers exceptional cases: the birth of a child in a family (mother on maternity leave to care for a child), a serious illness of one of the family members on whom the repayment of the loan depended, loss of a job due to the bankruptcy of an enterprise and some other isolated cases.

During the loan holiday period, loan payments are suspended, which allows the borrower to find additional sources of financing to repay the loan in the future.

Some circumstances due to which payments may be suspended are initially specified in the loan agreement, so the terms of the loan are automatically restructured. This procedure is not called credit holidays and has a completely different solution. If financial circumstances that do not allow the borrower to make the next payment on time are not provided for in the loan agreement, but are recognized by the Bank as force majeure circumstances, then the borrower may be granted a credit holiday.

What types of loans can be provided?

• mortgage credit lending;
• car loans;
• loans with a long credit period.

None of the banks provides credit holidays in cases of consumer loans, so you can’t count on the bank’s favor in case of financial difficulties in this case.

Terms of service

In principle, there are two types of credit holidays - deferment of payment on the “body” of the loan and on interest. There are also discrepancies regarding the time frame for providing such holidays in different banking structures - from deferring payment for the first month of lending until the moment when most of the loan has already been repaid. The duration of credit holidays can also vary among different banks - from several months to a year or two. Each case of providing a credit holiday is individual, so there may be many options.

Types of credit holidays provided:

• payment on the “body” of the loan is stopped, the borrower pays only interest on the loan, but the loan terms are extended;
• the payment is stopped completely, but certain interest is charged for this, that is, after the end of the holidays, the borrower will pay an amount significantly higher than under the previous loan repayment plan.

In any case, if difficulties arise with repaying a loan, it is more reasonable to contact the bank than to try to “escape” payment by illegal means.

Those who are temporarily unable to make monthly payments can find out how to properly apply for credit holidays at Sberbank of Russia in 2019 and submit an application for consideration.

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If there is a valid reason for the delay, the bank will give a positive answer. Loan repayment is a long process.

When applying for a mortgage or making a major purchase, many people hardly think about the fact that their financial situation may change in 3-5 years.

Not only for the better, but also for the worse. Sberbank gives its clients the opportunity to recover and continue loan payments after a certain period of time.

Important information

There are several reasons that may make a person think about how to apply for credit holidays with Sberbank online:

1. Dismissal from work, reduction of staff or liquidation of the company.
2. , detection of a serious illness requiring immediate treatment.
3. Loss of money and property due to a natural disaster.
4. Change of permanent residence.

The bank gives the opportunity to arrange holidays, but only on the condition that the client is a bona fide payer.

What it is

Vacations are an excellent way to avoid falling into a debt trap and maintain good relations with Sberbank.

There are several types of credit holidays:

Termination of payments with full deferment	This option may not be profitable for the client, since the bank charges additional penalties on payments
Partial deferment	Only interest or only principal is repaid. During the entire loan period, you can use this type of deferment only twice.
Changing the interest rate by increasing the loan term	It should be taken into account that the bank will not make a concession in every case. A change in size downward will not always be grounds for granting a vacation. Only a serious deterioration in the financial situation and complete inability to work can become a reason for changing the terms of the loan

If the loan was issued for, the bank may offer an option in which the vehicle is put up for auction, the loan is closed, and the remaining funds are transferred to the client.

Who are the contenders

Credit holidays provided by the bank are a separate type such as debt restructuring.

Only those clients who have repaid the loan in good faith and avoid late payments can receive this advantage.

When answering the question of how to apply for a credit holiday at Sberbank for an individual, first of all, one should highlight the fact that the client must evaluate his chances.

Who can be approved for installment plan:

1. Only to bona fide payers.
2. Persons in difficult financial situations.
3. A decrease in the amount of personal funds is not always a reason for providing a credit holiday. Only complete disability, loss of employment or illness are grounds.

Thus, a requirement is established for the bank to receive, which gives the right to carry out various banking and credit operations.

The process of issuing loans and the bank’s compliance with certain conditions is regulated, for example, when setting an interest rate.

How to apply for credit holidays in Sberbank today

Any borrower who has taken out a loan from the largest bank in Russia has the right to apply for a credit holiday.

After studying the documents and payment schedule, the specialist makes a decision. In most cases, if all conditions are met, it turns out to be positive.

Sometimes an offer to apply for a credit holiday is sent to the client via SMS message.

To use it, you just need to contact the bank branch where it was issued.

Vacations are practically the same restructuring, during which the client can pay off the mortgage on more favorable terms.

Bank information

Sberbank of Russia is one of the largest and most visited in the country. It was founded in 1841.

More than 70% of Russians use the services offered by the financial institution.

The bank is developing rapidly and has become no longer even similar to itself as it was ten years ago. Initially, the main function was the presence of savings banks.

Today, the population is provided with all types of credit and financial services.

General information about the bank:

There is a wide network of terminals and ATMs. They can be found on almost every street in any city.

Credit and debit cards are issued. More than 260 thousand people work for the company.

Terms of service

There are certain conditions, subject to which a service such as credit holidays can be provided:

Deferment type	Conditions
Full	used only when there are serious reasons; additional penalties are assessed; there is no provision for extension of the agreement term
Partial	available no more than twice during the entire repayment period; the amount of overpayment increases; the benefit is noticeable only if the total debt balance is not large
Individual conditions for the client	a delay of several months is allowed; You can use the service several times; there is a maximum and minimum vacation period; can be extended if necessary

Conditions for lending, as well as for providing credit holidays, are assigned in each case individually.

Possible options for women on maternity leave

Sberbank of Russia gives young mothers in need the opportunity to change the terms and payment schedule.

If a woman realizes that she cannot pay the mortgage and at the same time purchase everything necessary for the child, she can submit an application to the credit institution and wait for a decision.

Such a large bank as Sberbank of Russia provides long credit holidays - up to 5 years upon the birth of a second or third child in a family.

A mandatory condition for granting a deferment is a deterioration in the financial situation in the family.

Vacations are issued if a woman’s departure from work has caused a significant decrease in the amount of money in the family and a lack of it.

Particularly relevant is the issue of providing holidays to single mothers who, at the time of caring for a child after childbirth, do not receive anything other than a state benefit, the amount of which is so small that the woman will not be able to repay the loan.

Required documents

To apply for a deferred repayment of a large loan, the applicant must submit the following documents to the bank:

The application is drawn up in two copies, one of which must remain in the hands of the Sberbank client.

What is needed to obtain a deferment

To apply for a credit holiday, you need to do the following:

1. Write an application in the prescribed form and present it to the credit department of Sberbank.
2. Prepare all the necessary documents according to the list. Make copies of them.
3. Wait for an answer. The maximum period is three working days.

It is possible to receive vacations for up to 12 months. Minimum period – six months.

Even before contacting the bank, you should decide what type of vacation is needed - whether at least partial payments can be made.

What to pay special attention to

When planning to apply for a credit holiday, you need to take into account some nuances:

A loan can be really convenient and profitable, but in some cases it is no longer possible to repay it.

For example, a person may become seriously ill, start caring for a sick relative or child, or lose his job.

Credit holidays are a deferment of monthly payments that the bank provides to the borrower for some time. During the holidays, the borrower does not repay the loan. There are three options for credit holidays at the bank:

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

Full deferment of payment. This type of deferment is a normal 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 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 from work and so on.

Partial deferment of payment. This type of deferment involves drawing up 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 interest on the loan, or extend the loan repayment period, but reduce 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 exchange rate falls (if the loan is in rubles), and vice versa - when it rises (if the loan is in foreign currency).

Who can ask for a deferred payment on a loan?

If you document a valid reason for a possible deferment of payment, the bank will most likely meet the client halfway and provide him with the necessary benefits. Sometimes lenders generally impose special conditions for obtaining credit holidays, which limit the number of users of this service. This is an addition to the family, or concluding an agreement on a consumer loan. But usually the lender invites the borrower to independently choose when and in what way the client will take a break from loan payments.

Not many bank clients even know about the existence of the opportunity to go on a credit holiday. But gradually this service is finding its consumers and gaining popularity. How to get credit holidays?

• Call the bank and consult with a credit manager. It is necessary to warn about financial problems and determine the possible type of deferred payment on the loan;
• Document the need for a deferred payment (for example, bring a work record book with the appropriate notes or a certificate informing about a salary reduction or indicating a medical diagnosis);

The lender may require any additional documents at its discretion.

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

Credit holidays for no reason

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

Pros and cons

On the one hand, deferring payment on a loan from a bank makes it possible not to become a debtor and avoid litigation, but on the other hand, overpayment on the loan during the holidays will only increase. The amount of the overpayment will depend on the duration of the deferment on payments, because during the holidays the amount on which interest is accrued 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 deferment program is also strictly individual.

In conclusion, we note that a credit holiday is a temporary respite from a loan, and you will still have to return the money to the bank later. 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 lead the borrower to court, and collectors to his door.

Anfisa Khramova, expert editor

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Why a person needs a vacation is understandable - to relax. What type of vacation do credit holidays involve? Yes, absolutely anyone! Although many people are unaware of this, others have only heard about such a service and have only a vague idea of ​​what it is.

Meanwhile, loan holidays are an extremely advantageous offer for borrowers, which they guess about, but don’t know for sure, and therefore rarely take advantage of.

The banks themselves also prefer not to advertise this service, and in some financial and credit institutions it is not even on the list. This is quite understandable if you know for sure that a credit holiday means a break in payments, free of charge.

Payment on the loan is suspended for a certain period of time, and no penalties or additional interest are charged for this.

However, there are situations when banks provide such a service quite willingly. For example, if a borrower unexpectedly and temporarily cannot pay a debt, then it is more profitable for a financial institution to provide him with a credit holiday in order to at least somehow manage the process of delinquency.

Although this is how things look in theory, in practice banks often refuse to defer their clients, preferring to receive penalties and increased interest for delayed payments, trying to profit even more from the person’s plight.

Paid holidays on credit:

An interesting trend: today it’s easy to get a loan, but with its repayment there are a lot of problems for both objective and subjective reasons. If financial difficulties arise, then a loan holiday is a very convenient solution for the borrower.

But it can be very difficult to agree on this with the bank, and even if you manage to come to an agreement, you will still have to pay off the debt continuously, but not the amount of the debt itself, but only the interest accruing on it.

The loan repayment will thus not be very onerous, provided, of course, that the amount was acceptable and the interest rate was not exorbitant. The bank’s consent also depends on the specific debt repayment period during which the holiday falls.

It is unlikely that it will be possible to reach an agreement if the holidays were needed at the very beginning, because at this time in most banks only interest is paid, and not the main part of the loan.