Do you need to suspend your credit or loan repayment due to job loss?

You can benefit from the Anti-Crisis Shield 4.0

Shield 4.0 - who can benefit

Statutory suspension of the execution of a credit/loan agreement under the Anti-Crisis Shield 4.0 program

  • The suspension of the execution of a credit/loan agreement under the Anti-Crisis Shield 4.0 program can be used by a Client who lost a job or another main source of income after 13.03.2020 (if only one of the co-borrowers lost a job or other main source of income, they can still apply).

  • The application for suspension of the execution a credit/loan agreement must contain the borrower's declaration of loss of job or other source of income, as well as a criminal liability clause for false statements.

  • All co-borrowers who are party to a credit/loan agreement must submit an application.

What products can be suspended

An application for suspension can be made for:

  • consumer loans
  • mortgage loans
  • other loans

where:

  • if you have several loans of the same type, you can only suspend one agreement within a given group
  • a credit/loan agreement cannot be concluded later than 12.03.2020, and the loan period must not end earlier than 13.09.2020

Application templates (in Polish)

Rules

Produkty hipoteczne

Rules for suspending the execution of a credit/loan agreement:

  • the suspension period may be 1, 2 or 3 months
  • execution of a credit/loan agreement is suspended on the day the Bank receives the correct application for suspension of the execution of a credit/loan agreement for the period indicated by the borrower in the application
  • the loan period is extended by as long as the suspension period
  • during the suspension of the execution of a credit/loan agreement, the principal and interest instalments will be suspended; during this period no interest is charged or no other fees are charged, except for insurance fees related to the suspended credit/loan agreement
  • the suspension period for a credit/loan agreement is not considered a loan period; the loan period and all terms stipulated in the credit/loan agreement will be extended by the suspension period for the credit/loan agreement
  • if on the date of delivery of the application suspension of the repayment of credit/loan instalments is carried out on terms other than under Shield 4.0 (e.g. credit holidays), the period of this suspension will be shortened upon delivery of the correct application
  • during the suspension you can partially or completely repay the loan
  • in the case of loans not fully paid, the payment of instalments is suspended for the period of suspension
  • within 14 days of receiving the application, the Bank will provide the borrower through a durable medium with the confirmation of suspension of the execution of the credit/loan agreement; the confirmation will indicate the period for which the performance of the credit/loan agreement has been suspended and the amount of insurance fees (lack of confirmation does not affect the start of suspension of the credit/loan agreement)
  • information on suspension of the credit/loan agreement will be forwarded to Credit Information Bureau

An application for suspension of a credit/loan agreement using the bank form can be submitted at a Bank branch.

The statutory suspension of the execution of a credit/loan agreement shall apply based on changes introduced to the so-called Shield 4.0. program to the Act of March 2, 2020 on specific solutions related to the prevention, counteraction and eradication of COVID-19, other infectious diseases and crisis situations caused by them. An application for suspension of execution of a credit/loan agreement may relate to the following agreements:


  1. consumer credit agreement within the meaning of the Act of 12 May 2011 on consumer credit, or
  2. mortgage loans agreement within the meaning of the Act of 23 March 2017 on mortgage loans and supervision of mortgage brokers and agents (Journal of Laws item 819, from 2018, item 2245 and from 2019, item 2217), or
  3. credit agreements within the meaning of art. 69 of the Act of 29 August 1997 - Banking Law - if the borrower is a consumer within the meaning of art. 221 of the Act of 23 April 1964 - Civil Code.