Compensation — this is the repayment of part of the loan interest rate on the loans allocated to the business entities by commercial banks.
The compensation service is considered a free service and the paid compensation is given on condition that the funds are not returned.
Compensation is given to all destinations except for the following purposes:
- repayment of previously received loans or any other debt;
- production of alcoholic and tobacco products;
- formation of working capital of trade-intermediary organizations and catering enterprises;
- financing the construction of commercial facilities and catering facilities;
- formation of resource base of non-bank credit organizations and leasing companies;
- Organization of risk-based gambling and other games and purchase of equipment for these purposes;
The current loans or budget will not be compensated for the projects of borrowers with overdue debts on payments..
It is enough to apply to the commercial bank with an application for compensation.
The fund suspends the issuance of compensation in the following cases:
- when the contract for the provision of compensation is used for a purpose other than the applicable credit;
- when the corresponding part of the principal debt on the loan by the borrower is not returned within 90 days from the date of occurrence of obligations in accordance with the schedule of payments under the loan agreement;
- when unreliable or inaccurate information is detected in the order of the borrower and/or commercial bank.