How can I request a grace period for a loan?

Please inform us of your payment difficulties as soon as possible by submitting a grace period request in the internet bank by sending a message or contact your Relationship Manager directly.

When applying we would appreciate if you indicate more detailed cause of loan payment problems, impact on your business and your planned activities to overcome difficulties. Be prepared to be asked for the latest interim financials and more detailed questions.

How the process of applying grace period will happen?

After request of grace period is received, we will contact you regarding additional information. We evaluate every client’s case individually and will agree with you on next steps.

We will review all grace period requests as soon as possible. However, if the number of incoming requests increases significantly, we may need more time to review them and there is a chance that grace will be applied for payment(s) after the following one.

What is the maximum duration of the grace period that can be requested?

We have joined the moratorium developed by the Finance Latvia Association, providing for the possibility for bank customers facing short-term financial difficulties due to Covid‑19 to defer payments on loan principal up to 6 months.
In accordance with this moratorium, both the companies that have already been granted payment holidays in the time period from 12 March until 5 May 2020 and those which still require them will be able to apply for a one-time deferral of payments until 12 June.
Important to know:

  • deferred payment of the principal amount in accordance with the principles of the moratorium can be applied for only once, and the customer must apply by 12 June 2020;
  • upon deferral of the principal sum payments within the moratorium, Luminor does not require any additional collateral and does not raise the interest rate;
  • the moratorium is applicable to loan agreements with fixed repayment schedule;
  • the total amount of a customer’s liabilities as per all loan and leasing agreements within one financial institution shall not exceed 5 million euro.

Can I get a full grace period (principal + interest)?

You still have to pay interest during the grace period.