Caixa extends the payment break period from 90 to 180 days
THE Federal Savings Bank increased the possibility of pausing payments on commercial credits for individuals and legal entities for a period of up to 180 days.
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The measure is valid for contracts such as Renegotiation, Microcredit, Auto Credit, Construcard and CDC.
Extending the deadline from 90 to 180 days is one of the measures to combat the effects on the economy caused by the COVID-19 pandemic.
Rules
Customers who have already completed or are currently on their 90-day pause can request an extension for another 90 days.
Those who have not yet chosen this alternative can request a pause of up to 180 days.
With this pause, the amounts of the remaining installments will be changed and the interest from the paused period will be distributed among the remaining installments, increasing the amount of the monthly installment.
Regarding the final payment deadline, it is also automatically postponed, with the number of installments to be paid, interest rate and other contracted conditions remaining the same.
In the case of a late loan, the paused period takes into account the late installments and late fees are also added to the outstanding balance.
Who can apply?
Caixa clarifies that it will not automatically extend the term, so it is necessary to express interest.
Therefore, individual or legal entity customers with installment credit contracts up to date or up to 50 days late can make this request.
Additionally, it will not be possible to make the request in the following situations:
- If the type of loan is not among the modalities eligible for a break;
- The contract has already reached the maximum limit of paused installments;
- The contract has had a grace period when it was signed, since the pause period will be limited to 6 installments in total.
How to apply?
The request to pause up to 3 installments can be made via Caixa Internet Banking or through the Caixa APP, “credit” option and then “pause contract”.
In turn, a request to pause up to 6 installments can be made by calling 0800 726 8068, option 2.
If you prefer, you can still speak via WhatsApp on 0800 726 0104, option 4.
Construcard and Auto Credit, the request can be made exclusively through WhatsApp 0800 726 0104.
Digital Agency customers can call 3004 8104 (capitals and metropolitan regions) and 0800 208 8104 (other regions).
