Deferred Payment Portion Payment
Congratulations on your solar investment with Sungage Financial and welcome to NBT Bank! We are the banking partner of Sungage Financial, looking forward to assisting you with management of your solar loan, providing user-friendly resources and answering your questions.
For more information on the Deferred Payment Portion of your loan, please review our list of frequently asked questions below:
You can make a one-time payment towards the Deferred Payment Portion in several ways:
- Online: Make a one-time ACH payment. Complete the online ACH form to transfer funds from your bank account at any financial institution. Submit both Deferred Payment Portion and monthly payment when using this payment option, even if you are enrolled in recurring ACH payments. Your recurring ACH payment will be suspended without authorizing duplicate payment.
- Check: mail check with the completed payment coupon to NBT Bank Loan Operations, P.O. Box 149, Canajoharie, N.Y. 13317 or submit electronically via bill pay functionality through your financial institution.
- Service Center: call NBT’s Solar Lending Customer Service team at 844-NBT-LEND 844-628-5363. Service Center transactions require additional fee.
Your billing statements and NBT Digital Banking account show the original amount of the Deferred Payment Portion for your loan and the reamortization date. You will also receive reamortization notices starting 8 weeks prior to the reamortization date, which will detail how much you need to pay by the Deferred Payment Portion reamortization date to keep your current monthly payments the same.
Prior to the Deferred Payment Portion reamortization date, your prepayments will apply to the principal balance, reducing your loan interest over the term of the loan (if applicable). On the Deferred Payment Portion reamortization date, your prepayments will apply to the Deferred Payment Portion of your loan.
If you do not pay the Deferred Payment Portion prior to its reamortization date in full or miss any scheduled monthly payments, your monthly payments may increase. Deferred Payment Portion reamortization notices will be sent to you starting from 8 weeks prior to the Deferred Payment Portion reamortization date. A potential monthly payment increase amount is provided as an example for a borrower who has similar loan terms and original Deferred Payment Portion balance when they do not pay Deferred Payment Portion prior to the reamortization date.
Prior to the Deferred Payment Portion reamortization date, your payments will apply to the Principal Balance of your loan, reducing the interest you pay over the term of the loan, if applicable. Deferred Payment Portion balance stays the same until it’s reamortization.
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If you have any questions or need any assistance please contact Customer Service at 1-800-NBT-BANK.