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Offer to introduce a moratorium on repayment of obligations for loan products and measures to preserve financial stability.

 
 

Pursuant to the Decision on Interim Measures to preserve the Stability of the Financial System (RS Official Gazette no. 33/2020 - hereinafter referred to as: the Decision) adopted by the National Bank of Serbia on 17 March 2020, which entered into force on 18 March 2020, and regulates measures and activities during the state of emergency introduced due to the COVID-19 pandemic, Mobi Banka (hereinafter referred to as: the Bank) shall offer to all its customers a moratorium on repayment of obligations for loan products. 



1. What does the moratorium on repayment of obligations entail 


The moratorium is a suspension on repayment of obligations for loan products used by the Bank’s customers and implies that the payment of all obligations for loan products shall be deferred until the end of the state of emergency, and for no less than 90 days.

During the moratorium, the Bank shall calculate the regular contractual interest rate, which shall, upon termination of the moratorium, be added to the debt and distributed evenly over the remaining loan repayment period. 

Upon the moratorium termination, the customer shall continue to repay the loan product by extending the loan repayment period for three months.

Representative example of a cash loan repayment after the moratorium please see here.


2. When will the Bank apply the moratorium and which customers will be eligible?


The offer for moratorium on repayment of obligations for loan products is intended for all customers, who have loan products with the Bank on the day this offer is published on the Bank’s website (21 March 2020) and the offer shall be valid until 31 March 2020.
The Offer shall be deemed delivered to the customers after being posted on the Bank's website.

Customers who do not want the moratorium on payment of obligations should notify the Bank by 31 March 2020 at the latest by sending a message to the email address moratorijum@mobibanka.rs from the email address the customer registered with the Bank. 

The moratorium on repayment of obligations as of 31 March 2020, shall apply to all loan products customers who did not reject the offer or who did not notify the Bank that they do not want the moratorium in the defined manner within the stipulated deadline.

The Bank has the right to charge loan instalments due for payment until the day the moratorium starts producing legal effect on March 31, 2020, unless the client explicitly demanded the moratorium to be applied before the expiry of that timeframe running from the date the offer was published (March 21, 2020). This request customer can send from the registered email adress in the Bank to email moratorijum@mobibanka.rs


3. Other measures and activities of the Bank to preserve the financial system stability


In addition to the offer of the moratorium on the repayment of obligations explained above, the Bank shall implement a set of measures and activities to preserve the stability of the financial system in the Republic of Serbia, starting from 18 March 2020 and during the state of emergency declared due to the COVID-19 pandemic: 

    - The Bank shall not calculate the default interest rate on due and unpaid obligations;
    - The Bank shall not initiate enforcement proceedings;
    - The Bank shall not initiate forced collection procedure against the debtor;
    - The Bank shall not take any other legal action to collect the receivables from the debtors;


For more information please contact us on banka@mobibanka.rs.
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Your Mobi Banka

Useful information

 

Does the moratorium also apply to special-purpose device purchase loans?

I rejected the moratorium offer, can I apply for a moratorium now?

What will be the interest on my loan after the moratorium expires?

Is a partial early loan repayment possible during the moratorium?

Can I fully repay my loan early during the moratorium?

If I make an internal transfer to the loan sub-account and I want to apply for the moratorium, what happens with the funds?

Will my credit card grace period of up to 45 days be extended during the moratorium?

How does the repayment delay apply to the revolving credit cards and instalments?

If I make an internal transfer to my credit card and want to apply for the moratorium, can I use the funds from the card?

My authorised overdraft is about to expire, what do I need for an extension?

Do I get charged a default interest on my unauthorised overdraft during the moratorium?