Hungarian central bank advises borrowers who can to re-start installments

The National Bank of Hungary (NBH) on Monday advised borrowers participating in a repayment moratorium who are not distressed to re-start installments.

The central bank and financial market regulator noted that borrowers in the moratorium, introduced in the spring of 2020 to ease economic fallout from the coronavirus crisis, must still pay interest for the period during which installments were suspended, albeit in equal annual amounts.

“Whoever doesn’t want to pay back more interest and whose financial situation allows would be advised to start repaying their loan installments as soon as possible,” the NBH said.

Hungary’s government recently extended the term of the blanket repayment moratorium to September 30.