Clients complain about Monobank for “mad interest”: what changes they are outraged by

Due to the start of a full-scale war with Russia, Ukrainian banks introduced credit holidays for a while. After their abolition, banks left credit privileges for their customers. But now preferential rates are changing, in particular, in Monobank.

On the specialized website of the Ministry of Finance, the client left feedback on such changes and explained why this is a big problem for users.

Large interest returns

Monobank from August 1 returns the rate of 3.1% on loans. However, she is outraged, explaining that during martial law, benefits should be maintained for clients.

“In such a difficult situation, all my payments are timely and interest payments are made on time. I live in a city where there are active hostilities, and I don’t have the opportunity to pay your crazy interest … In this case, I will stop paying the loan altogether, and follow the Russian ship! When there is war in the country, you turned on the marauders. Let people pay at least what they pull,” the woman wrote.

How exactly will interest rates change and how does Monobank explain this

As noted in the press service of the bank, since June 1, credit holidays have stopped and now you need to make a mandatory minimum payment.

“If you make the minimum payments, you are left with a reduced rate on the bank’s loan products – 1.6% for services on account of the installment limit and the credit limit. Unfortunately, if the minimum payment is not made, the bank will be forced to return to pre-war rates – 3.1% on the credit limit and 1.9% for services to the installment limit account”, – explained in Monobank.

Also, if the client does not make these payments, this will affect the possibility of setting an installment limit and a limit on the card. In the same time, still valid benefits relate to the fact that the bank does not write off penalties, fines and forfeits in case of failure to make the minimum payment in accordance with the decision of the NBU.

But already from August 1, new conditions for interest will be in effect.
The Bank will return to the usual tariffs for loan products:

• 3.1% per month on the card;
• 1.9% on installments and cash loans (for loans opened before August 1, a preferential rate will remain until the end of the agreement).

“If you do not make the mandatory minimum payment in July, then your debt will be transferred to standard terms from July 1. We recommend replenishing the card in July in order to remain on preferential terms for another month. Making mandatory payments allows us to resume lending and support the Ukrainian economy,” – finally answered the client.

What other changes await Monobank customers

According to the bank, from July 1, users can again withdraw cash and transfer money to other cards against credit funds.

Also, new cards were opened in Monobank. For all sole traders in Monobank is now available currency card for travel expenses. That is, those who are abroad can spend travel money directly from the FLP account through Apple Pay or Google Pay. Customers also have the option to withdraw cash.

Today, they also wrote that Monobank users doing business on the Internet were given the opportunity to more easily carry out operations for accepting payments for goods. how to top up a Monobank card in Poland.