Banks help with coronavirus in Mexico with deadlines and truces | INTERNET
In Mexico, there will also be help from banks, from credit terms, brake on interest and zero impact on credit history will be some of the measures that will be taken to support clients in the face of this pandemic that is affecting everyone and of course also to Mexico, where the coronavirus is already taking its toll and the disease is not waiting.
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According to information from a document of the Association of Banks of Mexico (ABM), there will be measures to help and the most prominent will be to defer credit payments between two and four months, for customers who have difficulties making payments, since many They cannot work from home and have run out of money.
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This letter was sent to the president of the National Banking and Securities Commission (CNBV), Juan Pablo Graf Noriega, who stressed that this decision is due to the great economic impact that the country is suffering and along with the guidelines that restaurant owners are taking, tourism sector, supply chains and more, to prevent the spread of COVID-19.
Home construction loans, as well as individual loans with a mortgage guarantee, revolving loans (those that do not have a fixed number of installments) and non-revolving loans addressed to individuals, such as: credit card, payroll credit, personal loans, credit automotive and microcredit. Commercial credits, such as those of individuals with business activities, will offer them the following options:
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Partial or total deferral of principal or interest payments for up to four months with the possibility of extending up to two more months. The amounts may be frozen without interest charges. The facility will be applied for any modification to credit contracts that implies a change in the risk profile of the borrower or the operation.
For agricultural loans, credit institutions adhere to the FIRA Permanent Program of Support for Areas Affected by Natural Disasters, which includes the use of extensions, rescheduling, restructuring, debt consolidation and technical assistance. up to 6 months in the municipalities declared as a disaster area.
In order to receive benefits from these measures, the credits must be valid as of February 28.
Banorte is one of the first banks to apply this support to its clients. The bank highlighted that it will defer up to four months the payments of credit cards, automotive credit, payroll credit, mortgage credit, credit to SMEs (small and medium-sized companies), as well as personal credit to users who request it after being directly or indirectly by the coronavirus.
Clients must join the program between April 25 and 30, through its bank website and by phone at 81 81 56 96 91.
“At HSBC we shake your hand,” the bank published to inform its clients that they will have support. On his social networks, he informed that customers will be able to postpone their payments for up to six months, reducing the amount of the monthly fee or discount for early payment that applies to credit card, mortgage, car, personal, payroll and SMEs
This bank will do it through its telephone number 55 57 21 85 70 from Monday to Saturday from 08:00 to 21:00.
Finally we can mention that BBVA, Santander and Citibanamex have not disclosed the help they will give to their clients, although they are already analyzing the situation to help their users.