Clients must join the program between March 25 and April 30. For credit card customers, the deferred payments. No minimum payment will be required up to 4 months, without this affecting the Credit Bureau or collection expenses.
In addition, the bank will grant up to 6 months without interest in purchases over 500 pesos during March and April in hospitals, health services and pharmacies.
In automotive, payroll and personal loans, the bank also suspended the payment for 4 months, extending up to 7 months more than the original term. In the mortgage, the extension of the term is for 4 more months.
To request any support, the bank pointed out that clients need to be up to date with their payments by March 20.
“We are the ones at home, and we face the same challenges as all of society. Today COVID19 represents a great challenge for everyone; Today they need us, we are united, although we cannot be together, ”said Marcos Ramírez, president of the bank.
The bank reported in a statement that they will also give a grace period to those clients who have current loans, have a good credit history and where the direct impact of the coronavirus crisis on the activity of the requesting entity can be recorded.
“We put at your disposal payment facilities for your credits that will consist of grace periods from 6 to 12 months in the payment of principal,” he reported.
The bank announced three main axes in its contingency plan: the first consists of postponing its monthly principal and interest payments for up to six months; the second, to reduce the amount of your monthly payment, including the possibility of extending the term initially established; and the last, give discount to customers who pay in advance.
The measures apply to clients of credit card, personal credit, payroll credit, mortgage and automotive loans and financing to SMEs that request it until May 15.
This Wednesday, March 24, before these measures were announced, the Labor Party (PT) presented in the Senate a series of points of agreement were presented addressed to various authorities to implement measures to benefit the family economy during the COVID-19 contingency occurring in the country.
The sixth point invites the Association of Banks of Mexico (ABM) to postpone the collection of credits.
“The Senate of the Republic respectfully invites the Association of Banks of Mexico to coordinate with banking institutions to postpone the collection of credits, for the benefit of the family economy, while the CoVid-19 epidemic in the country is resolved “the document reads.
ABM told Expansión that for the moment, each bank will be the one to make decisions in the event of an emergency.