08.04.2020
Erste Bank und Sparkasse to facilitate moratoriums using simple online process
- Individuals and small businesses will be able to quickly start taking advantages of moratoriums
People who find themselves in financial stress as a result of the corona crisis need fast, non-bureaucratic access to assistance. Unemployment of one or more family members, reduced working hours, or a drop/total loss of income for small businesses often mean monthly loan re-payments can no longer be met. The recently enacted government moratorium is aimed at pre-cisely these people, guaranteeing both private individuals and SMEs with fewer than 10 em-ployees and an annual sales revenue of no more than two million Euros deferral of their loans from April to June.
Erste Bank und Sparkasse makes it easy to effect the moratorium. Affected customers simply complete an online form on the website https://www.sparkasse.at/erstebank/kundeninformation-coronavirus/ratenstundung, send it off, and they will receive the moratorium. The moratorium form is also available in the George digital banking platform.
‘The moratorium is a very sensible measure providing some relief during the corona crisis. It’s now a case of implementing it quickly and without any red tape. Customers shouldn’t have to come in or make an enquiry, but rather simply complete a form online and receive the moratorium”, says Erste Bank CEO Peter Bosek.
People who find themselves in financial stress as a result of the corona crisis need fast, non-bureaucratic access to assistance. Unemployment of one or more family members, reduced working hours, or a drop/total loss of income for small businesses often mean monthly loan re-payments can no longer be met. The recently enacted government moratorium is aimed at pre-cisely these people, guaranteeing both private individuals and SMEs with fewer than 10 em-ployees and an annual sales revenue of no more than two million Euros deferral of their loans from April to June.
Erste Bank und Sparkasse makes it easy to effect the moratorium. Affected customers simply complete an online form on the website https://www.sparkasse.at/erstebank/kundeninformation-coronavirus/ratenstundung, send it off, and they will receive the moratorium. The moratorium form is also available in the George digital banking platform.
‘The moratorium is a very sensible measure providing some relief during the corona crisis. It’s now a case of implementing it quickly and without any red tape. Customers shouldn’t have to come in or make an enquiry, but rather simply complete a form online and receive the moratorium”, says Erste Bank CEO Peter Bosek.
‘If April repayments have already been made, they can also be reversed. This can be arranged online just as quickly as the moratorium’, explains Gerhard Fabisch, president of the Österreichischer Sparkassenverband (Austrian savings bank association). ‘The deferred interest and repayments won’t be payable in July, but rather only at the end of the loan term, which will be extended by duration of the deferred repayments and the associated interest. The interest will remain unchanged for the deferred component; no default interest will be charged. This is a practical model that will effectively ease the financial pressure caused to our private and smaller business customers as a result of the corona crisis.’
The Erste Bank und Sparkasse website (www.sparkasse.at/unternehmer) not only contains the moratorium form for businesses, but also helpful information on funding programmes and other support measures, ranging from liquidity-planning tools to downloadable applications for bridg-ing finance and repayment deferrals. A special corona helpline for businesses, freelance pro-fessionals and private individuals (050100-51510) is available to answer questions every day – including weekends – from 8am to 6pm.
‘If April repayments have already been made, they can also be reversed. This can be arranged online just as quickly as the moratorium’, explains Gerhard Fabisch, president of the Österreichischer Sparkassenverband (Austrian savings bank association). ‘The deferred interest and repayments won’t be payable in July, but rather only at the end of the loan term, which will be extended by duration of the deferred repayments and the associated interest. The interest will remain unchanged for the deferred component; no default interest will be charged. This is a practical model that will effectively ease the financial pressure caused to our private and smaller business customers as a result of the corona crisis.’
The Erste Bank und Sparkasse website (www.sparkasse.at/unternehmer) not only contains the moratorium form for businesses, but also helpful information on funding programmes and other support measures, ranging from liquidity-planning tools to downloadable applications for bridg-ing finance and repayment deferrals. A special corona helpline for businesses, freelance pro-fessionals and private individuals (050100-51510) is available to answer questions every day – including weekends – from 8am to 6pm.