Liberty Starting Second Phase of Deferral of Loans

Liberty Bank, in order to take care of the customers and the situation in the country, offers a favorable period of loan obligations to the customers affected by the pandemic, who have reduced their income or lost their jobs. The second stage, the automatic grace period can be used by:

- All customers who are registered in the database of the Revenue Service and receive compensation from the Government of Georgia

-The automatic grace period applies to individuals (other than entrepreneurial individuals) only on loan obligations that were active as of March 14, 2020. They have to pay at least 1 payment from June 1 to August 30, 2020 and as of March 14 did not have any loans that were overdue for more than 30 days;

-If the customer does not wish to use the automatic grace period, he or she will be able to cancel by June 30 through the following channels: ATMs, Internet / Mobile Banking, Remote Service Center, any Liberty Service Center and Service Banker.

The automatic grace period does not apply to: pawn loans, deposit loans, loans issued under ‘Produce in Georgia’ and ‘preferential agro-credit’ and loans issued to individuals for business purposes, with current liabilities exceeding GEL 100,000 (It can be discussed).

According to the decision of Liberty Bank, in the framework of the social responsibility program #Libertertiguli, in order to take care of the customer and alleviate the loan obligations for them, the grace period of the second stage will also be affected to:

- Customers who have significantly reduced or lost income and this is identified by the bank;

- Customers who use social loans and overdrafts (including pension loans and overdrafts), in particular:

Social loans: From June 14, the principal amount provided by the loan schedule will be deferred, and from June 14 to August 14, borrowers will pay only the accrued interest for the current month. The loan repayment period will be extended so as not to change the monthly tax payment schedule provided for before the pandemic.

Social Overdrafts: From 14 June to 14 August 2020, customers will only pay the accrued interest for the current month. As for the interest tax accumulated as a result of the deferral on March 14 - June 14 - it will be repaid after the end of the grace period of the second stage, so that the monthly payment amounts will not increase significantly.

Also, Liberty Bank will offer a grace period for business borrowers, HoReCa sector representatives and individuals whose income has decreased during the pandemic and will not be able to make a loan in the coming months. In these and other cases, Liberty Bank reviews individually.

The additional stage of the second stage can be used from June 12 to August 30. After the end of this grace period, the payment of the loan obligations will start from September 1, 2020.