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In the initial provisions of the regulation, the government of the new democracy set interest at 5% and reduced to 3% in order to guarantee the viability of businesses and households, as well as the consistent monitoring and payment of regulatory fees, as well as by paying current contributions.
Yesterday, in a circular issued by EFKA, which adopted the new provisions of the law, this reduction is directly applicable to the new regulatory applications of Law No. 4611/2019, as well as to the regulations in force for which debtors will choose for the lump sum payment. of their doses. For all active parameters, the unpaid doses are automatically and gradually adjusted, without any further action being necessary.
Those who have already joined the 120-tranche arrangement, gradually in September and without having to do anything, will find that the monthly amount paid to pay their debts will decrease as the new reduced interest rate is applied.
In new applications, as well as in existing agreements, for which borrowers choose to pay their installments in one installment, the reduced interest rate will apply immediately and for all other active arrangements already concluded for the 120 installments, the adjustments will be done automatically, but the process will start shortly after September and end by October at the latest. The reduced doses will cover the period from which the new provisions are adopted.
The circular stipulates that the principal debt governed by the regulation of Law No. 4611/2019, as calculated after having calculated in accordance with the relevant provisions, is capitalized on the date of its incorporation and instead of interest, additional charges and surcharges due for late payment are charged. from the month following that of the adjustment of the interest rate calculated on the basis of the reference rate applicable to the refinancing operations of the European Central Bank above three percentage points per year.
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