How to make payments during the grace period
Posted: Tue Feb 18, 2025 10:23 am
It is important to follow the further development of events and understand whether you will receive a credit holiday: the conditions for their registration assume a 5-day period for consideration of the application by the bank. If the latter makes a decision to refuse, then you have the right to challenge it in court or file a complaint with the Central Bank of the Russian Federation.
It all depends on which option you prefer. At their discretion, the borrower can either reduce payments or not make them at all. But only within the period established by law. At the same time, the borrower can resume payments at any time.
As for the duration of the grace period, it is chosen by the applicant. If he does not specify the duration of the timeout and its start date, then a 6-month credit holiday period is established. They begin on the date of the corresponding request.
What will happen after the end of the credit holidays
The borrower will need to resume payments. It is important to find your mobile number database remember that during the grace period, interest under the agreement continues to accrue in full and will also need to be paid.
Otherwise, the fact of using a deferment does not affect the relationship between the bank and the client. However, the borrower will be able to use the credit holidays again only if the legislation changes. Exceptions are made only for certain categories of citizens.
How does the grace period affect your credit history?
Since the holidays are actually a form of debt restructuring, they are reflected in the borrower's credit history. It is possible that some financial institutions will perceive it as one of the risk factors.
However, the Bank of Russia has already given clarification on this issue: according to its representatives, the registration of the benefit does not affect the credit rating. This means that in the future the borrower can continue to apply for the use of financial products of banks.
Experts' opinion: is it worth using credit holidays?
Sometimes this benefit is the only way to avoid default, not to add fines and penalties to the debt amount, and not to ruin your credit history. The measure is designed for citizens who are temporarily unable to make payments for objective reasons.
It all depends on which option you prefer. At their discretion, the borrower can either reduce payments or not make them at all. But only within the period established by law. At the same time, the borrower can resume payments at any time.
As for the duration of the grace period, it is chosen by the applicant. If he does not specify the duration of the timeout and its start date, then a 6-month credit holiday period is established. They begin on the date of the corresponding request.
What will happen after the end of the credit holidays
The borrower will need to resume payments. It is important to find your mobile number database remember that during the grace period, interest under the agreement continues to accrue in full and will also need to be paid.
Otherwise, the fact of using a deferment does not affect the relationship between the bank and the client. However, the borrower will be able to use the credit holidays again only if the legislation changes. Exceptions are made only for certain categories of citizens.
How does the grace period affect your credit history?
Since the holidays are actually a form of debt restructuring, they are reflected in the borrower's credit history. It is possible that some financial institutions will perceive it as one of the risk factors.
However, the Bank of Russia has already given clarification on this issue: according to its representatives, the registration of the benefit does not affect the credit rating. This means that in the future the borrower can continue to apply for the use of financial products of banks.
Experts' opinion: is it worth using credit holidays?
Sometimes this benefit is the only way to avoid default, not to add fines and penalties to the debt amount, and not to ruin your credit history. The measure is designed for citizens who are temporarily unable to make payments for objective reasons.