Banks have changed the rules: is it possible to get a loan during the war

In connection with the introduction of martial law in Ukraine, most major banks announced credit holidays and promised not to charge penalties and late fees.

But whether new loans are being issued to Ukrainians, Segodnya has figured it out for you.

So, the decision to issue loans or suspend this process is made by each bank individually. The same goes for freezing credit limits.

We made a request to several popular banks and received the same answer from all of them – the issuance of loans is suspended. PrivatBank stressed that issuing consumer loans in wartime conditions is impossible.

“Individuals can use the credit limit on cards in the amount established before the war. It is physically impossible to issue consumer loans in wartime conditions. Businesses can also use the available credit funds and limits within the limits established before the war,” PrivatBank’s press service said.

FUIB also stated that the issuance of loans and payment by installments suspendedbut the ability to use the credit limit for active users remained.

“Currently, the credit limit can only be used for settlement transactions, but the issuance of new loans has been suspended,” Monobank told us.

Do I need to pay off a loan?

Unfortunately, hostilities do not release citizens from their debt obligations and do not cancel loans.

However, the banks agreed and introduced the so-called credit holidays for their customers. This means that you can not pay the “body” of the loan and all kinds of interest for some time.

For example PrivatBank announced a credit holiday for 3 months, also entered and Oschadbank.

Segodnya also wrote about whether it is necessary to pay utility bills during the war and talked about the new NBU rules for Ukrainians.