PBZ’s measures for helping citizens

When is the deadline for the submission of the application for the deferred payment?

The applications for deferred payment can be sent in the period between 15 April and 30 June 2020.

We recommend that loan users who want to submit an application for the said measure prepare documentation proving the deterioration of their financial situation due to the pandemic (e.g. a decision on work contract termination, a certificate issued by the employer on the reduction of income, etc.) in advance to enable faster application approval.

What is the deadline being contracted for deferral?

By arranging a measure of deferral, repayment of liabilities (principal and interest) is deferred by 3 months.

The measure is extended by an additional 3 months if the client doesn`t notify the Bank that he doesn`t want to continue the same at least 15 days before the repayment delay expires.

Does the deferral of payment affect the final repayment date?

By contracting the measure, the loan payment date is extended by the period of duration of the deferral of payment.

Is interest charged for the loan during the period of the deferral of payment?

The regular interest is calculated, but not charged. After the expiration of the deferral of payment, interest is not added to the principal, but is distributed to the remaining loan deadline, and the corresponding part of the interest matures together with the regular annuity/instalment after the expiration of the deferral. Regular interest is not calculated on the distributed interest in the remaining deadline for repayment.

How are due liabilities treated at the moment of contracting the deferral of payment?

Payment of the amount of due debt is extended by the period of the deferral of payment and no penalty interest is calculated. After the end of the said period, the due debt is distributed to the remaining deadline for loan repayment. In accordance with this, the corresponding part of the amount of the due debt matures together with the regular annuity/instalment after the expiration of the deferral of payment.

In what situations can I request the deferral of payment?

Reasons for requesting a moratorium can be as follows:

• Temporarily reduced or stopped salary from the employer;
• Loss of employment;
• Drop in income for craftsmen;
• Drop in other incomes (e.g. from renting, etc.).

What documentation is required for submitting the application?

The required documentation has to serve as proof for the reason for the deferral, e.g.:

• Certificate from the employer or a copy of the salary statement or an overview of transactions on the account or a JOPPD form (form on income, income tax, surcharge, and contributions for obligatory insurances), which illustrates the decrease in income;
• Termination of the employment agreement or a certificate from the employment service;
• Decision on the temporary closure/closure of a craft business;
• Document where the employee announces the reduction of income due to the current situation, etc.

How does the deferral of payment affect the annuity/instalment amount after the expiration of the measure?

With the regular annuity/instalment, the corresponding part of the liabilities from the period of the deferral of payment will have to be paid. After the expiration of the deferral of payment, the Bank will inform the Loan User of the corresponding part of the liability from the period of the deferral that will have to be paid through a regular annuity/instalment, and deliver a new repayment plan.

Does the deferral of payment measure also include the maturity of the insurance policy premiums that are the loan insurance instrument?

Insurance policy/policies mature/matures even during the period of the deferral of repayment and the Loan User is obligated to pay them in the manner contracted.

Is a fee charged for contracting the measure of the deferral of payment?

There is no fee for contracting the deferral of payment and no cost of solemnizing the contract annex.

How can I submit an application for the deferral of payment?

Since social distancing and client safety are extremely important under these circumstances, Privredna banka Zagreb has ensured that the applications for the deferral of payment can be submitted through remote means of communication. Loan users can submit the application in a few easy steps on the website.

The Bank will, depending on the recommendations of the competent national authorities, ensure the submission of the applications in branch offices as well.

Should I visit a branch office?

The preferred channel for submitting the application is through the Bank's website, considering that social distancing and client safety are very important under these circumstances. If you have submitted the application through the Bank's website, you do not need to visit a branch office. Moreover, if you are a PBZ digital banking user, you will be able to digitally sign the contract annex in the application or by a subsequent visit to the branch office after the measures and procedures aimed at suppressing the pandemic end.

The Loan User should inform other participants from the contract (co-debtors, guarantors) on the contracting of the measure and inform them that they will need to sign the contract annex after the measures and procedures aimed at suppressing the pandemic end.