Deferral of repayments is not automatic but
depends on agreement between the creditor
and debtor. Creditors have certain limited
grounds to refuse the application for deferral, if
filed by debtor.
Applies to both interest and principal repayments.
If the creditor is a bank, deferral is permitted
for a maximum period of 9 months. If the
creditor is a person other than a bank, the
deferral is permitted for a maximum period of 3
months. In both cases, the debtor may only
apply for deferral once during the pandemic
Granting a deferral will not be considered as a
default nor will it reduce the creditworthiness of
Consumers, SMEs and sole traders.
The following debtors are not eligible:
- Debtor in default for more than 30 days prior to the submission of the application
for the deferral;
- Debtor defaulting on another loan by an
amount of €100 and more as at
29 February 2020;
- Debtor considered to be a “failed debtor”
under EU Regulation No. 575/2013 as at
29 February 2020; or
- Debtor whose application for the deferral
has not been properly completed.
Ministry of Finance of the
From 12 March 2020
(the start of the
COVID-19 state of
currently in force.