Conditions for granting Credit Holidays on a Credit Card for Entrepreneurs | Raiffeisen Bank Aval Conditions for granting Credit Holidays on a Credit Card for Entrepreneurs #2 | Raiffeisen Bank Aval
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Credit cards for entrepreneurs

Conditions for granting Credit Holidays on a Credit Card for Entrepreneurs

You received an SMS from the bank about amending the loan agreement on your credit card. What does it mean?


1. Credit holidays are set at the initiative of the Bank based on a detailed analysis or based on your application on the Bank's website


2. According to the terms of the loan agreement, a monthly payment of 5% of the amount of the used credit limit is provided. The amount of the minimum monthly payment is set to maturity each month on the interest calculation date and must be repaid by the 20th day of the following month.


The granting of a credit holiday assumes that in the current month you have been given the opportunity not to pay the minimum payment.

During the period of credit holidays, the interest rate, the amount of the insurance payment are set at 0%.


3. Please note that the grace period is cancelled. After the end of the loan holiday, interest will be charged at the interest rate according to the loan agreement.


4. Information about your credit card, including the amount owed, the amount of the monthly minimum payment, please, in Raiffeisen Business Online.

 

The Borrower has the right to early repayment of the Loan during the Loan Holidays without the need to send any additional notices to the Bank.

 

The Borrower undertakes to repay the Debt in accordance with the terms of the Agreement and taking into account the new conditions set forth in this Notice.

 

If the Borrower does not agree to apply the Credit Holiday, the Borrower has the right to notify the Lender of the refusal within 5 (five) calendar days from the date of sending this notification.

 

If you have any questions, please contact your credit manager or call 0 800 50 50 45

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