Information about the moratorium

• Monthly notification: retail customers who have not opted out of the moratorium will be informed at the end of each month of how much of their credit/loan is under moratorium, how much interest and fees have accrued and not been paid, and how much of any overdue debt will only become due after the moratorium expires. Our customers will be notified via push notifications, while customers who do not have CIB Bank mobile application will be notified via SMS.
• Notification on data transfer to CCIS: notification on what amended data we deliver to the Central Credit Information System due to the moratorium. 

It is important that both notifications are for information purposes only, and do not entail a payment obligation. 

Monthly notification on the moratorium

Retail customers whose credit/loan is currently under the moratorium will receive monthly notifications via the CIB Bank mobile application via push notification or via SMS. 

What do the data contained in the notification mean?

1.    Principal debt: the full principal debt subject to the moratorium. 
•    In the case of credit card and overdraft facility: the portion of the facility subject to moratorium.
•    In the case of personal loans and loans secured by real estate collateral: the principal debt outstanding upon the effective date of the moratorium.

2.    Interest debt: pro rata interest accrued during the moratorium period. This sum will be payable after the expiry of the moratorium or after opting out of the moratorium in equal monthly instalments. 

3.    Fees debt: pro rata fees accrued during the moratorium period. This sum will be payable after the expiry of the moratorium or after opting out of the moratorium in equal monthly instalments, together with the interest debt. 

4.    Overdue debt: debt overdue at the effective date of the moratorium (18 March 2020, midnight), which falls due and payable immediately after the expiry of the moratorium and will not be broken down into monthly instalments. If you have no such debt, HUF 0 will be indicated in your notification. 
Pursuant to the applicable law, interests and fees accrued during the moratorium are payable in equal monthly instalments in a manner that the sum of the monthly equal instalment of the repayment due and the interests and fees accrued during the moratorium and repayable in instalments does not exceed the amount of the repayments as per the original agreement.  To that end, the term of the contract will be extended as necessary after the expiry of the moratorium.

Notification on data transfer to CCIS    

Banks and other credit institutions and financial undertakings keep record of the reference data of their customers in the CCIS (Central Credit Information System). When these reference data change for any reason, our bank is required to inform the customers of the transfer of such data to the CCIS. 

Due to the moratorium, the method of repayment (that is how you settled your debt until now, e.g. in monthly equal instalments) will be modified to Moratorium, Partial Moratorium values compared to the original contract, therefore, customers whose credit is currently subject to the moratorium will receive an informative postal or electronic notification letter on the transfer of reference data to the CCIS. 

Important to know:

•    If your contract with our bank is subject to the moratorium, we have extended the term on the basis of a preliminary calculation, based on the expiry date of the moratorium, which is 30 June 2022. The new expiration date has been forwarded to KHR, which is for information only. We would like to draw your attention to the fact that the determination of the actual expiry of the contract will be determined at the actual withdrawal of the contract from the moratorium.
•    If you have a contract with CIB Lízing that matures before the expiry of the Moratorium and it is subject to the Moratorium: the maturity date of the leasing has been modified to the expiry date of the Moratorium. 
•    If there is any change in your reference data (e.g. change of personal data: telephone number, e-mail address, etc.), you will receive the notification letter again.