OREANDA-NEWS. May 14, 2014. Sviaz-Bank (Vnesheconombank Group) has mounted a national campaign, Mgnoveniya vesny (Moments of Spring), for individual customers to give them an opportunity to repay their overdue debts on the principal and interest in full, without paying a penalty.

The repayment campaign will run until May 23, 2014, in all regions of the Bank’s presence. The Bank’s offer extends to consumer credit and mortgage loans, except for credit cards and overdrafts.

In a standard repayment of arrears, the penalty is charged at a rate of 0.75% of the loan amount for each day of delay.

During the first Moments of Spring campaign that was held between April 22 and June 1, 2013, over 65% of the customers in arrears to the Bank repaid their interest and liabilities on the principal without fine payment.

“The idea of similar campaigns is giving our customers in difficulties an opportunity of clearing them up in dignity. Sanctions for overdue payment of liabilities are an unpalatable, and inevitable, consequence of default on debt repayment and have a very negative effect on the quality of the customers’ lives. Involvement in the Moments of Spring campaign helps them cut costs of fine payment and shed the persistent debtor status,” says Sergey Akinin, Director of Sviaz-Bank’s Problem Assets Management Department.