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2011-12-28
Bank SNORAS resumes clients’ payments of instalments for loans

Frequently Asked Questions and Answers in respect of Existing Loan Obligations

Notwithstanding the bankruptcy proceedings commenced against AB Bankas SNORAS on 7 December 2011, the obligations of customers to whom the Bank made loans continue in accordance with the terms of those loans. Although there has been a period of disruption in respect of interest and principal payments in respect of loans these are now resolved and loan servicing and payment shall continue as normal with certain necessary adjustments explained on our web site and here in these answers.

1. Where can I learn the exact sum which I must pay according to the current obligations?

You can learn the exact sums of obligations in the banking system "Internet Bank+", by calling to the toll free line 8 800 27272 and by using the telephone banking service (if you are an existing subscriber of this service).

If you want to learn your exact account balances and the sums of obligations by phone, you will have to inform the bank employee about your date of birth and the client code (which you can find in the payment account agreement) and/or the password designated for providing services by phone (which can be found in the payment card agreement).

2. For which period should I pay the ordinary payments and the accrued interest?

You should pay the ordinary payments and the accrued interest for the period since 16 November 2011. If your ordinary payment for November 2011 was paid before 16 November 2011, you should pay the ordinary payment for December 2011, which is indicated in the loan redemption agreement.

3. Until when must I pay the overdue payments?

The ordinary payments for November, December and January and the accrued interest must be paid before 01 February 2012.

4. Will default interest be calculated for 16 November 2011 to 31 January overdue payments?

Default interest for the unpaid interest and principal payments falling due in the period 16 November 2011 to 31 January 2012 will not be payable.

5. Can I transfer payments by using Bank SNORAS internet banking system?

We are unable to operate the Bank SNORAS internet banking system for making payments.  You can pay instalments only by transfer of funds from another bank.

6. I have no possibility to execute my obligations. Where should I contact concerning postponement of the ordinary loan redemption payments?

You should contact the bank concerning postponement of the loan redemption payments and make arrangement concerning a meeting. You can contact by calling to the toll free line 8 800 27272 or by sending a query by e-mail paskolos@snoras.com or by filling in the form at the bank website.

7. If I transfer a payment amount that is smaller than indicated in the loan redemption schedule, will default interest be calculated?

The default interest will be calculated from 01/02/2012 for the obligations not fulfilled by that day.

8. According to the loan agreement, the instalments payment schedule had to be changed after 16/11/2011. Will the instalments payment schedule be changed and how will I receive it?

The recalculation of variable interest will be carried out under the order stipulated in the agreement. Concerning the change of other conditions of the loan agreement, you should contact the bank and arrange a meeting. You can contact by calling to the toll free line 8 800 27272 or by sending a query by e-mail paskolos@snoras.com or by filling in the  form at the bank website.

9. Which information must be specified while paying the instalment?

The payers, desiring that the loan would be covered with their transferred funds according to the loan redemption schedule, should indicate "1" in the field "Instalment code" of the order form.

The clients, desiring to cover the loan or its part prematurely, should indicate "2" in the field "Instalment code" of the order form as well as contact the bank and submit the application in writing (concerning a meeting the client should call to the bank's Contact Centre, send e-mail to paskolos@snoras.com or fill in the form at the bank's website http://www.snoras.com/).

The payers, while transferring the instalments in currency, should indicate the code of the person in whose name the taken loan is covered with the transferred funds. The personal code, the name and surname must be indicated for natural persons, and the legal entity code and the name - for legal persons. The payer should additionally indicate the account number of the client, on whose behalf the loan instalment is covered, located in Bank SNORAS and indicated in the loan agreement.

10. If the ordinary instalment is the last one according to the loan agreement, where should I contact concerning the documents, related to processing the loan agreement (cancelling the property pledge, etc.)?

You should contact the bank concerning the loan agreement termination and make arrangement concerning a meeting. You can contact by calling to the toll free line 8 800 27272 or by sending a query by e-mail paskolos@snoras.com or by filling in the established form at the bank website.

11. Will the changes in the loan redemption schedule, stipulated in the agreement, be performed if it is provided for in the agreement that for one year I pay only interest in a linear way, and after a year - the loan instalment and interest in annuity way?

All the changes stipulated in the agreement will be performed.

12. What information about the loan in Bank SNORAS and about its performed coverage will I see in the electronic banking system "Internet Bank+"?

Clients may check the size of the sum payable according to each loan by connecting to the programme of the bank services provision on-line "Internet Bank+" and by choosing the appropriate loan transaction in the section "Loans". In the opened window "Payable sums" the client's sum due to be paid for the period from 16 November 2011 until 28 December 2011 is displayed in the table "Information about overdue payments". Information about the sum and the date of the next payment is provided in the table of the same window "Information about the next payment".


Bank SNORAS resumes clients’ payments of instalments for loans

We hereby inform you that since December 28th, 2011 AB Bank SNORAS (hereinafter – the bank) resumes acceptance of instalments for loans. We request that clients now pay the instalments and other sums, which had to be paid according to the loan payment schedule from 16 November 2011 until 28 December, 2011 All subsequent loan instalments (i.e. Jan 2012) and other payable sums from 1 February 2012 must be paid by the clients under the order established in the agreement.

We are also informing you that, taking into consideration that the clients did not have an opportunity to pay the instalments and other payable sums on time, the bank's administrator made the decision not to apply the default interest and the commitment fees in the period from 16 November 2011 until 31 January 2012. We are drawing to your attention that from 1 February 2012 the default interest will begin to be calculated for the clients who did not cover the sum of the accumulated debt and did not renew the payment of the instalments under the order established in the loan agreements.

Clients who want to repay loans in full prematurely or in part should contact the bank via Contact centre or telebanking and submit the application in writing filling in the application form on the bank website http://www.snoras.lt/en/paskolosforma or send the e-mail to address loans@snoras.com

How to check the size of the sum payable
Clients may check the size of the sum payable according to each loan by connecting to the programme of the bank services provision on-line "Internet Bank+" and by choosing the appropriate loan transaction in the section "Loans". In the opened window “Payable sums” the client's sum due to be paid for the period from 16 November 2011 until 28 December 2011 is displayed in the table “Information about overdue payments”. Information about the sum and the date of the next payment is provided in the table of the same window "Information about the next payment".

You can also discover the sum payable by calling telebanking system or  the Contact Centre:
o Calling from Lithuania: 8 800 272 72
o Calling from abroad: +370 5 239 22 39

We want to draw to the clients' attention that, if you want to discover the sums payable by phone, the additional client's identifier must be submitted to the bank (the client's code or the password designated for providing services by phone).

How to pay instalments and other payable sums
The clients shall pay instalments and other payable sums according to the loan agreements under the order described below:
• payments in litas shall be transferred to the client's account for instalments in Bank SNORAS, as is indicated in the loan agreement;
• payments in foreign currency shall be transferred to Bank SNORAS account in AB SEB bank No. LT217044060007787462:

• in the period from 16 November 2011 until 28 December 2011 accumulated debt sum till 31 January 2012 inclusive;

• other current instalments for the loan – under the order established in the agreements.

Important:

1) Clients who want to pay an instalment in accordance with their loan schedule should indicate "1" in the field "Instalment code" of the order form.

2) Clients who want to pay all or part of their loan prematurely should indicate "2" in the field "Instalment code" of the order form as well as contacting the bank and submitting the application in writing.
The client should call to the bank Contact Centre or send the e-mail to address loans@snoras.com or fill in the application form on the bank website http://www.snoras.lt/en/paskolosforma concerning the meeting.

3) Clients paying in currency should indicate the code of the person whose loan is intended to be covered by the payment in the payment purpose field. The personal code, the name and surname must be indicated for natural persons, and the legal entity code and the name – for legal persons. Additionally the client must indicate the client's account for instalments in Bank SNORAS, as it is indicated in the loan agreement.

4) Clients who want to pay Snoras loans instalments in cash have to pay these funds into their bank account and then transfer the instalment electronically to the Snoras account set out in their loan agreement.


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AB Bank SNORAS
7 A.Vivulskio Str. LT-03221 Vilnius
Phone: + 370 5  239 2239
Fax: + 370 5  232 7300
E-mail: info@snoras.com
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