OREANDA-NEWS.  May 08, 2013. Sviaz-Bank has announced a large-scale federal campaign to annul fines charged to individuals for overdue repayment of loans. The campaign launched under the name Moments of Spring will go on until June 1.

The campaign covers consumer loans and mortgages issued under agreements made between the Bank and individuals among its customers, but does not apply to credit cards and overdrafts.

The Bank cancels all fines charged on arrears in repayment of the principal and all accrued interest during the campaign. Under standard conditions, a fine is imposed on overdue payments at a rate of 0.75% of the loan amount for each day of delay.