OTP Bank Romania announces measures for customers with ongoing loans, in the context of COVID-19 pandemic

OTP Bank Romania announces measures for its customers with ongoing loans, both for individuals, as well as for SMEs and Corporations, in the context of the Coronavirus pandemic.

Given the specific conditions for each customer segment, we have adopted a series of custom measures, as follows: 

For individual clients:

• For all the individual customers who have personal needs loans, with or without mortgage, including the First House, granted before the date of 20.03.2020, OTP Bank Romania offers the possibility of paying the installments at maturity or at any time until the date of May 29, 2020, without becoming a bad debtor and applying late penalties. Thus, by encouraging social spacing and avoiding trips that are not strictly necessary, OTP Bank offers this solution for customers who will not have the necessary financial availability on the reimbursment dates between 24.03 – 29.05.2020.
• Customers who cannot provide in their current accounts the necessary amounts necessary to pay the 2 or 3 installments due during this period, using remote operations, such as: collecting the salary in the OTP Bank account, depositing the rates at the OTP cash-in ATMs, bank transfer from an account opened to another bank, the “Money Magnet” option available through the OTPdirekt service, etc., will not accumulate penalties and will not record late days for the respective amounts.
• Customers who are unable to fully pay the rates accrued during this period, are asked to contact the bank in advance, to find together the best individual solution at no additional cost. Otherwise, the delay will be made starting with the first monthly maturity after the date of 29.05.2020 for all the accumulated and unpaid amounts up to that moment.
• Depending on the evolution of the general situation, the term mentioned above (29.05.2020) could be extended. 

For customers, legal entities, SMEs and Corporations:

• There are solutions prepared for special situations when, for objective reasons, revolving facilities cannot be extended according to the contractual provisions, one of the reasons being the impossibility of the customers representatives to phisically reach the bank, in order to sign the contractual documentation.
• We are aware that certain segments of activity are strongly affected and therefore we are prepared with those solutions that allow our partners to overcome this period. In the case of companies, the optimal solution is to apply customized measures, so that we want to analyze the need of each customer on time.

“Banks, more than ever, must act responsibly towards the local economy and with understanding towards their customers. In this sensitive context for all of us, we want to be close to our customers and collaborate with them to overcome, together and easier, a difficult period. We will be open and alongside them, bearing in mind the importance of the business continuity in Romania.” said Gyula Fatér, CEO, OTP Bank Romania.