DEFERRED INTEREST is when interest payments are deferred on a loan
during a SPECIFIC PERIOD of TIME.
You will NOT PAY ANY INTEREST
as long as your entire balance on the loan is PAID OFF BEFORE
this period ENDS.
For Consumer and Small Business Credit Card:
You may qualify for a payment deferral for future due dates on or before May 15, 2020 for personal accounts and June 15, 2020 for business accounts. Interest charges or applicable fees will continue to accrue and be added to your balance. However, if a Late Fee in connection with these payment deferrals is assessed, it will be refunded without additional action required on your part. Any payments already scheduled including automatic payment plans will require you to take additional action and will not be changed automatically.
