Postponement of loan repayments

17. April 2020

Notice of TAKING ADVANTAGE of protection period (deferral of payments)

pursuant to the Act No. 177/2020 Coll., on certain loan repayment measures in connection with the COVID-19 pandemic (hereinafter referred to as the „Act“)

By completing and submitting the form below:
I (We) declare and notify to Expobank CZ a.s., with its registered office at Na Strži 2097/63, 140 00 Praha 4, Czech Republic, Company ID No: 14893649, registered in the Commercial Register maintained by the Municipal Court in Prague, Part B, Entry 476, that I (We) intend to take advantage of the Protection Period (deferral of payments) due to the negative economic impact of the COVID-19 pandemic on me (us). I (We) provide more details below.

I (We) declare that all information and statements provided in this notice are true and correct, and that as of 26th March 2020 I was (we were) not in default with payment of any monetary debt arising from the loan(s) below for more than 30 days.

Information for the client:
If you leave the "Loan Agreement Number" field blank, then this notice will apply to all outstanding loans between you and the Bank stipulated and drawn before 26th March 2020. In case of mortgage loans, this notice will in such case apply to all outstanding mortgage loans between you and the Bank stipulated before 26th March 2020, even if such mortgage loans have not yet been drawn.

The protection period shall run from the first day of the first calendar month following the day on which the Bank received your Notice of Taking Advantage of Protection Period (For example, if your notice is delivered to the Bank before 30th April, 2020, the Protection Period will start running from 1st May 2020.

If you do not select any of the options in the field "Required Duration of the Protection Period" field, the duration of the Protection Period will be automatically set till 31st October 2020.


Co-applicant 1


Co-applicant 2


Co-applicant 3


  • Required Duration of the Protection Period
  • Till 31 st October
  • Till 31 st July 2020

If this web form allows you, you can use the following application

Forms to fill in:
Form for individual client 
Form for corporate clients
 

And send the completed form to email:
odklad_splatek@expobank.cz

Frequently Asked Questions


Will the change of a loan repayment schedule affect the information in the Client Information Bank Register (CIBR)?

If you have been repaying the loan duly, the change in a loan repayment schedule will not have any negative impact.

What is the latest date to file a deferral notice on exercising my right to postpone loan installments?

The Act does not stipulate the time limit for delivering a notice on deferral of loan installments to the bank. However, pursuant to the Act your installments will be deferred from the first day of the first calendar month following the day on which the bank received your deferral notice. For example, if you deliver your notice before April 30, 2020, your payments will be deferred from May 1, 2020. If you deliver your notice before May 31, 2020, your repayments will be deferred from June 1, 2020, and so on. However, according to the wording of the Act, the installments may be deferred until October 31, 2020 at the latest. Therefore, starting from November 1, 2020, you will have to start repaying the loan as before, regardless of wherever you submitted a deferral notice at any time from April 17, 2020. The right of loan installments deferral cannot be exercised with retrospective effect; therefore, if the deferral notice is delivered to the bank after the end of April 2020, the deferral period shall be reduced by one month per each month lapsed. Therefore, if you intend to use the maximum six-month period of the loan installments deferral provided by the law, you have to deliver the deferral notice to our bank by the end of April 2020.

Am I automatically entitled to the deferral in the light of the current situation?

Yes, if your deferral notice meets the requirements set out by the law, you will be legally entitled to defer your loan installments.

However, this does not apply in cases stipulated by law. In particular, you are not entitled to deferral of installments:
- If by March 26, 2020 you were in delay with payment of your monetary debts concerning the relevant loan by 30 days or more,
- if the loan was stipulated or drawn on March 26, 2020 or later, unless it is a mortgage loan or some other similar loan as specified by law
- if it is a mortgage loan or some other similar loan specified by law, which was stipulated on March 26, 2020 or later
- if it is a facility line (overdraft) that can be repeatedly drawn after partial or full repayment
- if it is a loan intended for trading with investment instruments
- if it is one of the other exceptions stipulated by law

To minimize the risk of errors, we recommend using the notice form for:
Individual
Corporate

Send the completed form to email odklad_splatek@expobank.cz

What maximum deferral period of loan installments can I apply for?

You can request a deferral of installments until either October 31, 2020 or July 31, 2020. If you deliver us your deferral notice, but without indicating the preferred length of the deferral period, then the deferral period will pursuant to the law last automatically until October 31, 2020.

Pursuant to the law, the installments will be deferred from the first day of the first calendar month following the day on which the bank received your deferral notice. I.e. for example, if you deliver your notice before April 30, 2020, your payments will be deferred from May 1, 2020. If you deliver your notice before May 31, 2020, your repayments will be deferred from June 1, 2020, and so on. However, according to the wording of the Act, the installments may be deferred until October 31, 2020 at the latest. Therefore, starting from November 1, 2020, you will have to start repaying the loan as before, regardless of wherever you submitted a deferral notice at any time from April 17, 2020. The right of loan installments deferral cannot be exercised with retrospective effect; therefore, if the deferral notice is delivered to the bank after the end of April 2020, the deferral period shall be reduced by one month per each month lapsed. Therefore, if you intend to use the maximum six-month period of the loan installments deferral provided by the law, you have to deliver the deferral notice to our bank by the end of April 2020.

Where can I get a deferral notice form?

You can use the deferral notice form for :
Individual
Corporate

Or you can write an e-mail to odklad_splatek@expobank.cz with your deferral request and we will send you the required form. Corporate Banking clients and Private Banking clients are advised to contact their banker.

Who can file a deferral notice?

Any person or company that is repaying a loan with our bank.

How can I submit a deferral notice?

Ideally by filling out a notice form for:
Individual
Corporate

And sending it to the bank via the website, or by e-mail to odklad_splatek@expobank.cz. Deferral notice can also be sent by post to the registered office of our bank or via Internet banking. You can also deliver it personally to our Prague branch near Pankrác metro station, although we recommend postponing the personal visit for a more convenient time and use preferably the means of remote communication.

When should I submit a notice?

The sooner the better. Please note that your repayments will be deferred no earlier than from the first day of the first calendar month following the day on which the bank received your deferral notice. For example, if you deliver your notice before April 30, 2020, your payments will be deferred from May 1, 2020. If you deliver your notice before May 31, 2020, your repayments will be deferred from June 1, 2020, and so on. However, according to the wording of the Act, the installments may be deferred until October 31, 2020 at the latest. Therefore, starting from November 1, 2020, you will have to start repaying the loan as before, regardless of wherever you submitted a deferral notice at any time from April 17, 2020. The right of loan installments deferral cannot be exercised with retrospective effect; therefore, if the deferral notice is delivered to the bank after the end of April 2020, the deferral period shall be reduced by one month per each month lapsed. Therefore, if you intend to use the maximum six-month period of the loan installments deferral provided by the law, you have to deliver the deferral notice to our bank by the end of April 2020.

What other documents should I submit?

In general, no further documents need to be submitted.

What are the next steps?

Upon receipt of your deferral notice we will confirm its acceptance without undue delay. Subsequently, within 30 days of receipt of the deferral notice, we will notify you in writing, by e-mail or by means of another durable medium of the start and end dates of the deferral period, as well as of the amounts, quantity and frequency of payments after the end of the deferral period, as well as of the total amount you will have to pay as the result of the deferral.

At what time will I receive confirmation from you that my loan installments have been deferred?

Upon receipt of your deferral notice we will confirm its acceptance without undue delay. Then we will deal with your notice as soon as possible. Subsequently, within 30 days of receipt of the deferral notice, we will notify you in writing, by e-mail or by means of another durable medium of the start and end dates of the deferral period, as well as of the amounts, quantity and frequency of payments after the end of the deferral period, as well as of the total amount you will have to pay as the result of the deferral. The abovementioned 30-day period is the maximum period stipulated by law. We will do our best to process your deferral notice as quickly as possible, but please understand that due to the large number of deferral notice we expect, the workload of our employees and the general emergency situation, we are likely to take full advantage of this legal deadline.

How will the contract documentation be signed?

No other contractual documentation shall be signed unless we agree otherwise within the meaning of Section 5 paragraph 4 letter a) of the Act on Certain Loan Repayment Measures in Connection with the COVID-19 Pandemic.

Is the deferral of loan installments charged with a fee?

Processing of the deferral notice is free of charge by law. We do not charge for it. For the duration of the deferral period we only charge the interest agreed upon within the loan agreement. If you are a consumer and the interest rate agreed upon within the loan agreement exceeds the repo rate announced by the Czech National Bank increased by 8 percentage points, we will, in accordance with the law, reduce the interest rate for the duration of the deferral period so that the interest is equal to the repo rate announced by the Czech National Bank increased by 8 percentage points.

Will the bank raise the interest rate of my loan in connection with the deferral of loan installments?

No, it will not. During this change of the contractual terms the bank will maintain the same interest rate and will not increase it in any fashion. If you are a consumer and the interest rate agreed upon within the loan agreement exceeds the repo rate announced by the Czech National Bank increased by 8 percentage points, we will, in accordance with the law, reduce the interest rate for the duration of the deferral period so that the interest is equal to the repo rate announced by the Czech National Bank increased by 8 percentage points.

How will this change affect my loan?

The total amount you will have to pay will be increased by the interest accrued over the period for which the installments will be deferred (the so-called deferral period). The loan will be charged at the agreed interest rate for the duration of the deferral period (if you are a consumer and the interest rate agreed upon within the loan agreement exceeds the repo rate announced by the Czech National Bank increased by 8 percentage points, we will, in accordance with the law, reduce the interest rate for the duration of the deferral period so that the interest is equal to the repo rate announced by the Czech National Bank increased by 8 percentage points). At the same time, the term of the loan will be extended, unless we agree otherwise.

Within 30 days of receipt of the deferral notice, we will notify you in writing, by e-mail or by means of another durable medium of the start and end dates of the deferral period, as well as of the amount, quantity and frequency of payments after the end of the deferral period, as well as of the total amount you will have to pay as the result of the deferral.

Will there be any additional costs in connection with the deferral of loan installments?

Not from the side of the bank. However, you may have to pay low fees to third parties; for example, if you decide to send your deferral notice by post, you will have to pay and bear the postage costs.