Banky team Reviewed editorial answerSome banks may allow the deferral of one or more installments in specific cases or for certain products, but this isn't an automatic right for every customer.
Key points
Before agreeing, ask: Will the deferred installment be added to the final payment?
Are there any additional fees or interest?
And will the total cost change?
Obtain clear approval from the bank before the due date, as simply not paying doesn't constitute a "deferral."
The figures, fees and limits in this answer vary by bank and change over time — confirm them with your bank or the official source before acting.