Banks and Credit Organizations Offer Clients 'Loan Holidays'

In an effort to prevent the spread of the coronavirus and avoid overcrowding in bank branches, Ameriabank has decided to grant all individual clients a 'loan holiday' for two months. All individuals, including sole proprietors, can postpone their scheduled loan payments (both principal and accrued interest) without any negative consequences until May 13 inclusive.

The interest rates on these loans will be recalculated and distributed over the remaining months according to a newly established schedule.

Mogo UVC also announces that it will operate similarly. The organization has issued a statement, the full text of which is presented below.

Mogo UVC, emphasizing social responsibility, is offering citizens who have taken auto loans the option to adjust their repayment schedules if necessary, moving March payments to April without additional fees. This information is shared on Mogo's Facebook page.

Furthermore, considering the preventive measures against the spread of the coronavirus, the restructuring can be done over the phone, as stated in the post.