Issue a credit card during the war: what are the conditions in PUMB, PrivatBank, Oschadbank and Monobank banks

Because of the war, many Ukrainians lost their jobs and sources of income, for some, consumer loans became a lifeline.

The editors of Segodnya found out whether popular Ukrainian banks issue credit cards during the war and under what conditions.

FUIB

The First Ukrainian International Bank (FUIB) offers a new loan offer – this is a VSEMOJU Online credit card. FUIB provides up to 62 days grace period without overpayments to repay the loan, the interest rate per month after the grace period is 2.99%. The commission for withdrawing credit funds from an ATM is 2.99%.

The bank also charges cashback to a credit card up to 5% (the maximum cashback rate per month is UAH 500). The credit limit is calculated individually, but no more 200 thousand UAH.

You can apply for a VseMOJU Online credit card both online and at bank branches. Due to the war, the service is available only to existing bank customers if there is an offer. Information on distribution of the proposal to the “open market” is not yet available.

Oschadbank

Oschadbank customers can apply for a “My credit card” card, which provides for a limit up to 250 thousand UAH without collateral, grace period up to 92 days for the selected category and up to 62 days for all other categories of purchases. The loan is repaid on a monthly basis 5% of the amount used credit funds

Such services are available only to customers who have been served at the bank for a long time. New customers credit card service is not provided.

Monobank

For all Monobank clients available service loan processing, however, the decision on granting a credit limit is made by the bank after registration. The client is checked according to a special model containing more than 1000 different factors.

If the credit limit has been agreed upon, the client can use the bank’s funds free of charge for almost 2 months – the grace period is valid up to 62 daysyou only need to pay the amount due in the current month on any day until the last day of the next month.

Then the interest rate is 3.1% per month. Replenishment is free, 0.5% commission is provided for withdrawing own money, and 4% for credit ones.

PrivatBank

As explained to “Today” in the press service of PrivatBank, in order to receive a banking service – to issue a loan, deposit, etc. need pass identification and become a bank customer. In the current conditions, the bank’s requirements for the borrower are becoming even more stringent.

For lending, the bank uses a conservative model – it studies the client and his solvency, weighs the possibility of setting credit limits.

“We have several thousand parameters of so-called predictors that show which client can be credited and which cannot, who should increase the limit and who should be reduced. The bank also checks the client’s credit history in UBKI”– noted in PrivatBank.

The decision to increase or decrease the limit is made by the bank individually for each clientby analyzing a large number of factors. It is easier to get a loan for a client who receives a salary in PrivatBank or has savings. New customers in a financial institution are not denied services, but they are treated more meticulously.

The “Universal” card makes it possible to draw up a credit limit up to 200 thousand UAH with a grace period of up to 55 days. The base interest rate per month is 3.5% of the amount debt, but from June 1 to August 31, other conditions apply and in the case of a mandatory monthly payment, the interest rate is reduced to 2.5-1.7%.

Credit Law

The other day, the Verkhovna Rada adopted bill No. 7441-1 as a basis for individuals who took out a loan to buy an apartment or car, but lost them due to hostilities or occupation. The law was supported by 283 deputies.

The draft law proposes to suspend loan payments for Ukrainians who, as a result of the war, ended up in a temporarily occupied or active hostilities territory and whose property was damaged or destroyed (you need to have the relevant documents to confirm).

For some borrowers, loans may be written off altogether. This applies to Ukrainians who:

• the total area of ​​the destroyed property for which the loan was taken does not exceed 140 sq. m, for a residential building – 250 sq. m, and which is the only place of residence of the borrower’s family, or the only car was destroyed, the engine capacity of which does not exceed 2500 cubic meters. cm;
• as of February 23, 2022, there is no overdue debt under such an agreement;
• the purpose of obtaining a loan under the agreement is the acquisition, reconstruction or construction of such immovable property or the acquisition of such a car.

In this case, the creditor receives the right to compensation from the state. To apply, Ukrainians have time during martial law and another 3 months after the day of its termination.

“Today” used to tell when it is better not to pay interest on a loan, and also wrote which particular banks lend money during the war.