Customers with ongoing loans may request deferral of instalments in accordance with Ordinance 37/2020 for a period of up to 9 months, without exceeding December 31, 2020

2020-04-09 - Events, News, OTP Group
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As of July 30 2024, OTP Bank Romania is owned by Banca Transilvania and is no longer affiliated with OTP Group. The OTP brand is used under a temporary license. Visit the Questions and Answers section for more information.

Customers whose incomes have been directly or indirectly affected by the serious situation generated by the COVID-19 pandemic can benefit from the solution of delaying the payment of credit rates according to the Ordinance 37/2020, between 1 and 9 months, but not later than 31.12.2020.

For this measure are targeted individuals, authorized individuals (PFA), individual enterprises, family businesses, liberal professions and professions which are practiced under special laws, regardless of the form of exercise of the profession, and companies (except credit institutions). It applies for all types of loans granted before 30.03.2020, including.

During the deferral period, for individuals, the reimbursement credit instalments, the interests and the related commissions will not be carried out, without arrears or the application of penalties of delay. It is important to know that, for all loans except mortgages, at the end of the deferral period, the accumulated amounts will be rescheduled during the extended lending period in consequence of the number of deferral months, and the interest will be capitalized on the credit balance, with the observance of the classification of the debtors within the age limit at the end of the extended contract. In the case of mortgage loans, the interest applied to the debt is 0% and the payment by the debtor will be made in 60 equal monthly instalments, starting with the month immediately following the end of the deferral period.

Individuals, legal entities and assimilated categories that wish to benefit from this ease, must cumulatively fulfil the following conditions:
- incomes have been directly or indirectly affected by the serious situation generated by the COVID-19 pandemic (for example: entering into technical unemployment as a result of the closure / restriction of the activity of the employer, dismissal, reduction of salary, institutionalized quarantine or isolation at home, infected with COVID-19);
- the loan was granted until the date of entry into force of the provisions of Government Emergency Ordinance no. 37/2020, respectively March 30, 2020 including.
- the date of the final maturity of the credit instalments, stipulated in the credit contract, is after the date of entry into force of the provisions of the Government Emergency Ordinance no. 37/2020, respectively March 30, 2020, including.
- they were not declared with a final due date by March 30, 2020, including.
- it does not register outstanding instalments on March 16, 2020, including, or the payment of the outstanding obligations until the date of deferral request has been made, under the conditions provided in art.2, paragraph (1) of the Government Emergency Ordinance no. 37/2020.
- the request for the deferral to be made within 45 days from the publication of the Ordinance in the Official Gazette, that is until May 16, 2020.

In addition, borrowers requesting this facility, except for individuals, must cumulatively fulfil the following conditions:
- interrupt the activity in whole or in part as a result of the decisions issued by the competent public authorities, according to the law, during the decreed period of state emergency.
- is not insolvent at the date of requesting the credit rated deferral, according to the information available on the website of the National Office of the Trade Register.
- only for legal entities: they have the emergency situation certificate issued by the Ministry of Economy, Energy and Business Environment. As for the PFA / II / IF customers, they will present the declaration on their own responsibility, stating that their income has been affected and they are unable to meet the payment obligations related to the credit.

Customers that want to defer rates can do so very simply. It is enough to send us a request in this regard:
1. preferably by filling in the form for individuals or for companies / similar categories 
2. at the email address: office@otpbank.ro, 
3. letter (on paper),
4. Telephone (Telverde: 0800 88 22 88 - free of charge from any fixed or mobile network in Romania or +4021 308 57 10 – available also from abroad).

Regardless of the chosen method, it is necessary to specify the following information:
• individuals: name of the credit holder, telephone number, email address, personal identification number (CNP) of the main debtor, type of credit product, reason for the deferral request and the period for which the deferral is requested.
• legal entities / assimilated categories: name of the company, telephone number, email address, CUI, name of legal representative, type of credit product, number of the credit contract, time period for the request, the channel on which it wishes to transmit the decision and the notification regarding the request for rates deferral and at the same time annexing the emergency situation certificate issued by the Ministry of Economy, Energy and Business Environment. In the case of PFA / II / IF, they will present the declaration on their own responsibility, stating that their incomes have been affected and they are unable to fulfil the payment obligations related to the credit.

OTP Bank will analyse the request and will provide a response within a maximum of 15 days from the date of request submission, and within 30 days at most, if the request is approved, the customer will receive a notification of the amended clauses, including the new repayment schedule.

Customers wishing to further pay their rates, without being subject to the measure of deferral, don’t have to do any formalities in advance. It is enough for them to have in their accounts the amount necessary for the instalments, and the operation will be carried out as before, according to the contract conditions.