Information on changes to the rules for automotive lending

28 August 2023

Dear customers, we hereby inform you that from September 12, 2023 changes to “Rules for providing and servicing a loan for the purchase and collateral of a vehicle» come into effect. Changes are introduced pursuant to the current legislation in the area of payment services and concern specifics of loan repayment with residual value, terms of direct debit (debiting the account). Please also note that the deadline for providing a vehicle technical passport in case of pledge of property rights is changed from 30 days to 5 days. You can read the updated Rules at the link.

List of clauses added to the Rules:

1.9.4 (Specifics of debt repayment on a Loan with residual value); 1.14 (Debiting the account (direct debit), 7.9 (Terms of amending and supplementing the Rules for Customer Notification).

Clause amended in the Rules:

Previously	Currently
2.3.21. In the event of the pledge of property rights under the purchase agreement for a vehicle, which is the Collateral, the Borrower is obliged to present the original vehicle registration certificate to the Bank within 30 calendar days from the date of the loan (…)	2.3.21. In the event of the pledge of property rights under the purchase agreement for a vehicle, which is the Collateral, the Borrower is obliged to present the original vehicle registration certificate to the Bank within 5 calendar days from the date of the loan (…)