First Ukrainian International Bank (FUIB) extends the credit card loan repayment holidays until July 30, 2020 inclusive. Loan repayment holidays are extended automatically for all FUIB customers who use the bank's credit cards. As of June 30, 2020, FUIB serves more than 600,000 active credit cards.

Loan repayment holidays apply to all credit cards and do not involve the payment of a fee for their provision, as well as the application of increased interest rates and penalties for late payments.

HOW TO FORMALIZE A LOAN REPAYMENT HOLIDAYS EXTENSION

The extension of loan repayment holidays on FUIB credit cards for the period from July 1 to July 30, 2020 is formalized automatically. You DO NOT NEED to file applications or call the call center to activate loan repayment holidays for FUIB's credit cards

HOW PAYMENTS WILL BE ACCURED FOR THE LOAN REPAYMENT HOLIDAYS PERIOD

• Despite the softening of quarantine measures and the resumption of activities of some enterprises, the bank retains the same conditions of loan repayment holidays as they were for the period from April 1 to June 30.
• Mandatory credit card payments accrued by the bank from June 30 to July 30, 2020, within the validity of loan repayment holidays will contain only interest on the loan. Repayment on the body of the loan is deferred for the duration of the credit vacation. This will allow to reduce the financial burden by twofold.
• Payments on the body of the loan that have not been paid temporally during the loan repayment holidays will have to be paid later. These payments will be evenly distributed and included in payments after the end of the loan repayment holidays in order to mildly bring the client to the previous schedule and amount of payments.
• Clients who do not require loan repayment holidays can, without restriction, pay amounts greater than the mandatory payment during the holidays (which at this time consists only of interest payments), including for the purpose of using the terms of the grace period. You can see the amounts of the mandatory payment, full repayment or grace period in PUMB Online

HOW PAYMENTS WILL BE ACCURED AFTER THE END OF THE LOAN REPAYMENT HOLIDAYS PERIOD

• Loan repayment holidays for FUIB credit cards expire on July 30, 2020. This means that starting with the first payment after the end of the loan repayment holidays, on which payment dates fall on August 30, 2020, the bank will gradually include the body of the loan.
• The transition period, during which you will need to pay temporarily unaccrued payments for the period of loan repayments holidays on the body of the loan, will last from August to November 2020 inclusive. During this period, the bank will gradually increase the minimum payment on a monthly basis, so that at the end of the year clients can reach the pre-quarantine payment schedule.
• If the client has difficulty servicing credit cards, the bank will provide an opportunity to apply individually for loan repayment holidays. The bank will additionally inform about the conditions for granting individual loan repayment holidays by credit cards.