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Loan repayment holidays may be requested via Public Services Portal

21 May 2020

News

New anti-crisis law No. 106-FZ allows borrowers to generate a personal income tax statement (according to Form 2-NDFL) and a statement from their accounts with the Pension Fund of Russia required when individuals apply for loan repayment holidays and to send these documents to any bank or another financial institution directly via their personal accounts on the Public Services Portal. This is a temporary solution that already now helps borrowers to optimise their communication with banks and save time, and enables credit institutions to quickly receive verified documents with electronic signatures of competent authorities and to promptly make a decision.

This solution has been implemented by the Ministry of Communications and Mass Media of the Russian Federation jointly with the Bank of Russia. For this purpose, the developers have uploaded a special directory onto the Public Service Portal. The directory contains emails of banks and other financial institutions. This makes it very easy for individuals to choose a particular company and to send documents thereto.

In the future, the developers are going to add an option for financial institutions to receive all information on individuals’ income (insurance premiums, tax payments, etc.) needed to approve loan repayment holidays from individuals’ digital accounts. Relevant amendments are currently being devised to be introduced into Resolution of the Government of the Russian Federation No. 710, dated 3 June 2019.

Currently, the developers are also working on an option for borrowers to submit requests for loan repayment holidays and generate the full package of mandatory documents directly via the Public Services Portal.

Preview photo: GaudiLab / Shutterstock / Fotodom

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