Information regarding the provisions on lending

The moratorium is expected to be extended by 6 months. Based on prior communication, for companies, eligibility will be tied to a 25% drop in revenue and a declaration of need. For retail clients, the moratorium is expected to be extended for parents raising children, retirees, the unemployed and public employees. However, there are still many open questions regarding the extension at this point, we are awaiting the publication of the detailed legislation. We will be able to provide more information after that. Thank you for your patience!  

• Monthly notification: At the end of each month, we inform our retail customers who have not withdrawn from the moratorium on the portion of their loan /lease agreement that is subject to the moratorium, the amount of accrued unpaid interest and fees, and the amount of any overdue debt, which becomes due only after the moratorium expires.
  • Our customers with a bank loan or credit will be notified in a push message or our customers who do not have a CIB Bank Mobile Application will be notified via SMS.
  • Our customers with a lease agreement will receive a postal letter.
• Notification of data transmission to CCIS: information on what modified data have been transmitted to the Central Credit Information System due to the moratorium. 

It is important to note that both notifications are for information only, they do not entail a payment obligation! 

Monthly notification related to the moratorium

We send a monthly notification via push message or SMS via the CIB Bank Mobile Application to our retail bank customers whose loan is currently subject to the moratorium, and we send a postal letter to our retail customers with a lease agreement subject to the moratorium so that they can track the level of their debt. 

What do the data in the notification mean?

1.    Principal debt: the total principal debt subject to the moratorium. 

• Credit cards and overdrafts: the part of the limit that is subject to the moratorium.
• Personal loans and property-backed loans: the principal debt existing at the time the moratorium entered into force.

2.    Interest debt: pro rata interest accrued during the moratorium period. This amount shall be paid in equal monthly instalments upon expiry of the moratorium or withdrawal from the moratorium. 
3.    Fees debt: pro rata fees accrued during the moratorium period. This amount shall be paid in equal monthly instalments upon expiry of the moratorium or withdrawal from the moratorium, along with the interest debt. 
4.    Overdue debt not due until 1 January 2021: Debt that was overdue when the moratorium entered into force (midnight on 18 March 2020), which becomes due immediately after the moratorium, will not be divided into monthly instalments. If you do not have such debt, HUF 0 is indicated in the message. 

Interest and fee debt accrued during the moratorium shall be paid in equal monthly instalments in accordance with the relevant legislation¹  in a manner that the sum of the repayment due and the interests and fees accrued during the moratorium and repayable in equal monthly instalments does not exceed the amount of the repayments as per the original agreement. To this end, the term of the contract will be extended as necessary after the moratorium expires.

Notice on data transmission to CCIS 

Banks and other credit institutions and financial enterprises register the reference data of their customers in the CCIS (Central Credit Information System). When these reference data change for any reason, our bank / leasing company is obliged to inform the affected customers about the transfer of the data to CCIS. 
Due to the moratorium, the method of repayment (i.e. the way you have settled your debt so far, e.g. in equal monthly instalments) is changed to a grace period compared to the original contract, therefore our customers whose credit product is subject to the moratorium at the moment will receive an information letter on the transmission of reference data to the CCIS.

Please note:

• If you have a contract expiring this year and it is subject to the moratorium: the maturity date of the loan transaction has been changed to 31 January 2021. 
• If you have a contract that does not expire this year: the expiry has not been changed for the moment. After the expiry of the moratorium or withdrawal from the moratorium, we will send you another letter, which will already include the new expiry date.
• 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.  

Please note that  processing the declarations may take longer but your declaration will be taken into account and you will be excluded from the moratorium if you declare that you do not wish to participate in it. In the meantime, we ask for your understanding and patience. 

If you have access to the CIB Bank Mobile Application:

• Please open the #withKEY function that you can find in the lower right corner of the CIB Bank Mobile Application’s home screen!
• Enter your minimum 5, maximum 10 digits long PIN code or use the biometric authentication you use to log into the mobile application and to approve transactions.
• On the www.cib.hu/nyilatkozom link, enter the customer ID and the #withKEY password that appears on the screen. 

If you do not have access to the CIB Bank Mobile Application: 

• You can use the platform by entering your customer ID (typically the middle 8 digits of your GIRO account number or the user ID on your request form for CIB Internet-based digital services) and the password generated by your CIB Hard Token device. 
• Enter the token PIN code, then generate a login password with button number 1.

• Our clients who have personal loans, mortgage and credit cards can make the statement regarding their decision to opt-back in via the CIB24 call centre by calling (+36 1) 4 242 242. Our clients with overdraft products can make the same statement from June 9, 2020 also via the help of CIB24. 
• We ask our leasing clients to download the “Nyilatkozat a moratóriumba visszalépésről – lízing” named form from the related documents at the bottom of the page, and once completed, send it to the lizinghitelcentrum@cib.hu e-mail address.